0001704720-22-000020 | 10-K | XBRL Viewer

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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 85.8	$ 724.7
Fixed maturity securities available for sale, at fair value	0.0	35.2
Other current assets	35.8	84.3
Total current assets	121.6	844.2
Equity securities, at fair value	1,045.1	1,799.1
Investments in unconsolidated affiliates	2,261.3	1,453.0
Lease assets	172.0	202.3
Property and equipment, net	100.6	145.8
Other intangible assets, net	26.9	51.8
Goodwill	53.4	53.4
Other long term investments and noncurrent assets	108.7	63.8
Total assets	3,889.6	4,613.4
Current liabilities:
Accounts payable and other accrued liabilities, current	105.6	93.2
Lease liabilities, current	23.8	26.2
Income taxes payable	24.7	47.4
Deferred revenue	23.1	23.9
Notes payable, current	2.3	11.3
Total current liabilities	179.5	202.0
Deferred tax liabilities	143.8	325.3
Lease liabilities, long-term	166.1	195.6
Notes payable, long-term	14.1	52.2
Accounts payable and other accrued liabilities, long-term	45.0	53.1
Total liabilities	548.5	828.2
Commitments and contingencies - see Note M
Equity:
Cannae common stock, $0.0001 par value; authorized 115,000,000 shares as of December 31, 2021 and December 31, 2020; issued of 92,460,514 and 92,391,965 shares as of December 31, 2021 and December 31, 2020, respectively; and outstanding of 86,886,034 and 91,651,257 shares as of December 31, 2021 and December 31, 2020, respectively	0.0	0.0
Preferred stock, $0.0001 par value; authorized 10,000,000 shares; issued and outstanding, none as of December 31, 2021 and December 31, 2020	0.0	0.0
Retained earnings	1,642.8	1,929.8
Additional paid-in capital	1,888.3	1,875.8
Less: Treasury stock, 5,574,480 and 740,708 shares as of December 31, 2021 and December 31, 2020, respectively, at cost	(188.6)	(21.1)
Accumulated other comprehensive loss	(7.2)	(4.9)
Total Cannae shareholders' equity	3,335.3	3,779.6
Noncontrolling interests	5.8	5.6
Total equity	3,341.1	3,785.2
Total liabilities and equity	$ 3,889.6	$ 4,613.4

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Par value per share (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	115,000,000	115,000,000
Common stock, shares, issued (in shares)	92,460,514	92,391,965
Common stock, shares, outstanding (in shares)	86,886,034	91,651,257
Preferred stock, par or value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock, shares (in shares)	5,574,480	740,708

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Total operating revenues	$ 742.2	$ 585.7	$ 1,070.0
Operating expenses:
Cost of restaurant revenue	617.4	524.3	912.8
Personnel costs	80.1	94.8	90.3
Depreciation and amortization	26.6	30.7	40.7
Other operating expenses, including asset impairments	151.6	116.6	133.4
Goodwill impairment	0.0	7.8	10.4
Total operating expenses	875.7	774.2	1,187.6
Operating loss	(133.5)	(188.5)	(117.6)
Other income (expense):
Interest, investment and other income	21.1	17.2	15.6
Interest expense	(9.8)	(9.0)	(17.8)
Recognized (losses) gains, net	(310.8)	2,362.2	357.7
Total other (expense) income	(299.5)	2,370.4	355.5
(Loss) earnings from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(433.0)	2,181.9	237.9
Income tax (benefit) expense	(74.0)	481.2	24.2
(Loss) earnings from continuing operations before equity in earnings (losses) of unconsolidated affiliates	(359.0)	1,700.7	213.7
Equity in earnings (losses) of unconsolidated affiliates	72.6	59.1	(115.1)
(Loss) earnings from continuing operations	(286.4)	1,759.8	98.6
Net loss from discontinued operations, net of tax - see Note N	0.0	0.0	(51.8)
Net (loss) earnings	(286.4)	1,759.8	46.8
Less: Net earnings (loss) attributable to non-controlling interests	0.6	(26.4)	(30.5)
Net (loss) earnings attributable to Cannae Holdings, Inc. common shareholders	(287.0)	1,786.2	77.3
Amounts attributable to Cannae Holdings, Inc. common shareholders
Net (loss) earnings from continuing operations attributable to Cannae Holdings, Inc. common shareholders	(287.0)	1,786.2	127.6
Net loss from discontinued operations attributable to Cannae Holdings, Inc. common shareholders	0.0	0.0	(50.3)
Net (loss) earnings attributable to Cannae Holdings, Inc. common shareholders	$ (287.0)	$ 1,786.2	$ 77.3
Basic
Net (loss) earnings per share from continuing operations (in usd per share)	$ (3.19)	$ 20.84	$ 1.77
Net loss per share from discontinued operations (in usd per share)	0	0	(0.70)
Net (loss) earnings per share (in usd per share)	(3.19)	20.84	1.07
Diluted
Net (loss) earnings per share from continuing operations (in usd per share)	(3.19)	20.79	1.76
Net loss per share from discontinued operations (in usd per share)	0	0	(0.69)
Net (loss) earnings per share (in usd per share)	$ (3.19)	$ 20.79	$ 1.07
Weighted average shares outstanding Cannae Holdings common stock, basic basis (in shares)	90.1	85.7	72.2
Weighted average shares outstanding Cannae Holdings common stock, diluted basis (in shares)	90.1	85.9	72.4
Restaurant revenue
Revenues:
Total operating revenues	$ 704.7	$ 559.7	$ 1,043.3
Other operating revenue
Revenues:
Total operating revenues	$ 37.5	$ 26.0	$ 26.7

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Statement of Comprehensive Income [Abstract]

Net (loss) earnings

$ (286.4)

$ 1,759.8

$ 46.8

Other comprehensive (loss) earnings, net of tax:

Unrealized gain on investments and other financial instruments, net (excluding investments in unconsolidated affiliates)

^[1]

0.6

10.7

0.1

Unrealized gain (loss) gain relating to investments in unconsolidated affiliates

^[2]

5.7

(15.9)

7.1

Reclassification of unrealized losses on investments in unconsolidated affiliates, net of tax, included in net earnings

^[3]

2.2

46.2

19.1

Reclassification of unrealized gains on investments and other financial instruments, net of tax, included in net earnings

^[4]

(10.8)

0.0

Other comprehensive (loss) earnings

(2.3)

41.0

26.3

Comprehensive (loss) earnings

(288.7)

1,800.8

73.1

Less: Comprehensive earnings (loss) attributable to noncontrolling interests

0.6

(26.4)

(30.5)

Comprehensive (loss) earnings attributable to Cannae

$ (289.3)

$ 1,827.2

$ 103.6

[1]	Net of income tax expense of $0.1 million, $2.9 million and less than $0.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.
[2]	Net of income tax expense (benefit) of $1.5 million, $(4.2) million and $1.9 million for the years ended December 31, 2021, 2020 and 2019, respectively.
[3]	Net of income tax expense of $0.6 million, $12.3 million and $5.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.
[4]	Net of income tax benefit of $2.9 million for the year ended December 31, 2021.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Statement of Comprehensive Income [Abstract]

Unrealized gain on investments and other financial instruments, tax expense

^[1]

$ 0.1

$ 2.9

$ 0.1

Unrealized (loss) gain relating to investments in unconsolidated affiliates, tax expense (benefit)

^[2]

1.5

(4.2)

1.9

Reclassification of unrealized losses on investments in unconsolidated affiliates, tax expense

$ 0.6

$ 12.3

^[3]

5.1

^[3]

Reclassification from accumulated other comprehensive income for gain, tax expense (benefit)

^[4]

$ (2.9)

[1]	Net of income tax expense of $0.1 million, $2.9 million and less than $0.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.
[2]	Net of income tax expense (benefit) of $1.5 million, $(4.2) million and $1.9 million for the years ended December 31, 2021, 2020 and 2019, respectively.
[3]	Net of income tax expense of $0.6 million, $12.3 million and $5.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.
[4]	Net of income tax benefit of $2.9 million for the year ended December 31, 2021.

CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Millions

Total

Unconsolidated affiliates

Cumulative Effect, Period of Adoption, Adjustment

Common Stock

Additional Paid-in Capital

Unconsolidated affiliates

Retained Earnings

Cumulative Effect, Period of Adoption, Adjustment

Accumulated Other Comp (Loss) Earnings

Cumulative Effect, Period of Adoption, Adjustment

Treasury Stock

Non-controlling Interests

Beginning balance (in shares) at Dec. 31, 2018

72,200,000

Beginning balance at Dec. 31, 2018

$ 1,199.7

$ 15.5

$ 0.0

$ 1,146.2

$ 45.8

$ 20.5

$ (67.2)

$ (5.0)

$ (0.2)

$ 75.1

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Other comprehensive earnings — unrealized loss on investments and other financial instruments, net of tax

0.1

^[1]

0.1

Other comprehensive earnings — unrealized gain on investments in unconsolidated affiliates, net of tax

7.1

^[2]

7.1

Reclassification adjustments for unrealized gains and losses on investments and other financial instruments, net of tax, (excluding investments in unconsolidated affiliates) included in net earnings

^[3]

0.0

Reclassification of unrealized gains and losses on investments in unconsolidated affiliates, net of tax, included in net earnings

19.1

^[4]

19.1

Equity offering, net of offering costs (in shares)

7,500,000

Equity offering, net of offering costs

236.0

Dun & Bradstreet equity issuance costs

(1.4)

Treasury stock repurchases (in shares)

200,000

Treasury stock repurchases

(4.9)

$ (4.9)

Shares withheld for taxes and in treasury

(0.8)

$ (0.8)

Stock-based compensation

4.6

$ 10.6

4.0

$ 10.6

0.6

Contribution of CSA services from FNF

1.3

Deconsolidation of T-System

(2.9)

Subsidiary dividends paid to noncontrolling interests

(1.0)

Net earnings (loss)

46.8

77.3

(30.5)

Ending balance (in shares) at Dec. 31, 2019

79,700,000

200,000

Ending balance at Dec. 31, 2019

1,529.8

$ 0.0

1,396.7

143.6

(45.9)

$ (5.9)

41.3

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Restaurant Group Reorganization

(5.5)

6.8

(12.3)

Other comprehensive earnings — unrealized loss on investments and other financial instruments, net of tax

10.7

^[1]

10.7

Other comprehensive earnings — unrealized gain on investments in unconsolidated affiliates, net of tax

(15.9)

^[2]

(15.9)

Reclassification adjustments for unrealized gains and losses on investments and other financial instruments, net of tax, (excluding investments in unconsolidated affiliates) included in net earnings

^[3]

0.0

Reclassification of unrealized gains and losses on investments in unconsolidated affiliates, net of tax, included in net earnings

46.2

^[4]

46.2

Equity offering, net of offering costs (in shares)

12,700,000

Equity offering, net of offering costs

455.0

Sale of noncontrolling interest in consolidated subsidiary

3.7

Treasury stock repurchases (in shares)

500,000

Treasury stock repurchases

(14.4)

$ (14.4)

Shares withheld for taxes and in treasury

(0.8)

$ (0.8)

Stock-based compensation

4.2

11.9

4.2

11.9

Contribution of CSA services from FNF

1.2

Subsidiary dividends paid to noncontrolling interests

(0.7)

Net earnings (loss)

1,759.8

1,786.2

(26.4)

Ending balance (in shares) at Dec. 31, 2020

92,400,000

700,000

Ending balance at Dec. 31, 2020

3,785.2

$ 0.0

1,875.8

1,929.8

(4.9)

$ (21.1)

5.6

Beginning balance (in shares) at Dec. 31, 2020

92,400,000

700,000

Beginning balance at Dec. 31, 2020

3,785.2

$ 0.0

1,875.8

1,929.8

(4.9)

$ (21.1)

5.6

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Other comprehensive earnings — unrealized loss on investments and other financial instruments, net of tax

0.6

^[1]

0.6

Other comprehensive earnings — unrealized gain on investments in unconsolidated affiliates, net of tax

5.7

^[2]

5.7

Reclassification adjustments for unrealized gains and losses on investments and other financial instruments, net of tax, (excluding investments in unconsolidated affiliates) included in net earnings

(10.8)

^[3]

(10.8)

Reclassification of unrealized gains and losses on investments in unconsolidated affiliates, net of tax, included in net earnings

$ 2.2

^[4]

2.2

Treasury stock repurchases (in shares)

4,828,168

4,800,000

Treasury stock repurchases

$ (167.3)

Shares withheld for taxes and in treasury (in shares)

100,000

Shares withheld for taxes and in treasury

(0.2)

$ (0.2)

Stock-based compensation

2.4

$ 10.1

2.4

$ 10.1

Subsidiary dividends paid to noncontrolling interests

(0.4)

Net earnings (loss)

(286.4)

(287.0)

0.6

Ending balance (in shares) at Dec. 31, 2021

92,400,000

5,600,000

Ending balance at Dec. 31, 2021

$ 3,341.1

$ 0.0

$ 1,888.3

$ 1,642.8

$ (7.2)

$ (188.6)

$ 5.8

[1]	Net of income tax expense of $0.1 million, $2.9 million and less than $0.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.
[2]	Net of income tax expense (benefit) of $1.5 million, $(4.2) million and $1.9 million for the years ended December 31, 2021, 2020 and 2019, respectively.
[3]	Net of income tax benefit of $2.9 million for the year ended December 31, 2021.
[4]	Net of income tax expense of $0.6 million, $12.3 million and $5.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net earnings (loss)	$ (286.4)	$ 1,759.8	$ 46.8
Adjustments to reconcile net (loss) earnings to net cash used in operating activities:
Depreciation and amortization	26.4	30.7	54.5
Equity in (earnings) losses of unconsolidated affiliates	(72.6)	(59.1)	115.1
Distributions from investments in unconsolidated affiliates	23.7	128.4	2.0
Recognized losses (gains) and impairments of assets, net	309.2	(2,343.5)	(256.9)
Lease asset amortization	22.6	25.1	38.8
Stock-based compensation cost	2.4	4.2	4.6
Changes in assets and liabilities, net of effects from acquisitions:
Net decrease (increase) in other assets	27.7	(31.4)	(18.0)
Net (decrease) increase in accounts payable, accrued liabilities, deferred revenue and other	(1.2)	26.0	8.4
Net decrease in lease liabilities	(23.9)	(28.3)	(46.9)
Net change in income taxes	(204.0)	374.2	(32.6)
Net cash used in operating activities	(176.1)	(113.9)	(84.2)
Cash flows from investing activities:
Distributions from investments in unconsolidated affiliates	298.1	48.3	1.0
Proceeds from the sale of investments in unconsolidated affiliates, equity securities and other investments	72.6	9.9	4.8
Proceeds from sales of VIBSQ, Legendary Baking and RCI	63.2	0.0	0.0
Proceeds from the sale of property and equipment	10.4	4.4	21.4
Collections of notes receivable	2.8	7.2	0.0
Cash acquired upon acquisition of Legendary Baking and VIBSQ - see Note I	0.0	8.6	0.0
Net proceeds from sales and maturities of short term investments	0.0	0.5	30.9
Cash proceeds from the contribution of T-System to CorroHealth, net of cash transferred	0.0	0.0	66.9
Investments in Paysafe, net of subscription fees earned	(514.7)	0.0	0.0
Investments in Alight, net of subscription fees earned	(446.3)	0.0	0.0
Additions to notes receivable	(18.6)	(37.3)	0.0
Additions to property and equipment and other intangible assets	(13.7)	(22.3)	(28.3)
Cash deconsolidated at the inception of the Blue Ribbon Reorganization	0.0	(1.1)	0.0
Net other investing activities	2.6	0.1	3.0
Net cash used in investing activities	(272.4)	(74.2)	(24.2)
Cash flows from financing activities:
Borrowings, net of debt issuance costs	206.6	45.2	367.3
Debt service payments	(236.4)	(108.8)	(290.8)
Equity offering proceeds, net of capitalized costs	0.0	455.0	236.0
Sale of noncontrolling interest in consolidated subsidiary	0.0	3.7	0.0
Subsidiary distributions paid to noncontrolling interest shareholders	(0.2)	(0.8)	(0.9)
Proceeds from Restaurant Group sale and leaseback of corporate office, net of issuance costs	0.0	0.0	13.2
Payment for shares withheld for taxes and in treasury	(0.2)	(0.8)	(0.8)
Purchases of treasury stock	(160.2)	(14.4)	(4.9)
Net cash (used in) provided by financing activities	(190.4)	379.1	319.1
Net (decrease) increase in cash and cash equivalents	(638.9)	191.0	210.7
Cash and cash equivalents at beginning of period, including cash of discontinued operations	724.7	533.7	323.0
Cash and cash equivalents at end of period, including cash of discontinued operations	85.8	724.7	533.7
Ceridian
Adjustments to reconcile net (loss) earnings to net cash used in operating activities:
Equity in (earnings) losses of unconsolidated affiliates	0.0	(1.5)	(16.4)
Cash flows from investing activities:
Proceeds from sale of Ceridian and D&B shares	400.8	721.0	477.9
Dun & Bradstreet
Adjustments to reconcile net (loss) earnings to net cash used in operating activities:
Equity in (earnings) losses of unconsolidated affiliates	13.5	46.8	132.8
Cash flows from investing activities:
Proceeds from sale of Ceridian and D&B shares	186.0	0.0	0.0
Investments in unconsolidated affiliates, Dun & Bradstreet, net of capitalized syndication fees	0.0	(200.0)	(526.1)
Sightline
Adjustments to reconcile net (loss) earnings to net cash used in operating activities:
Equity in (earnings) losses of unconsolidated affiliates	2.4	0.0	0.0
Cash flows from investing activities:
Investments in unconsolidated affiliates, Dun & Bradstreet, net of capitalized syndication fees	(272.0)	0.0	0.0
Other Investments In Unconsolidated Affiliates
Adjustments to reconcile net (loss) earnings to net cash used in operating activities:
Equity in (earnings) losses of unconsolidated affiliates	(20.7)	(117.8)	(1.3)
Cash flows from investing activities:
Investments in unconsolidated affiliates, Dun & Bradstreet, net of capitalized syndication fees	(43.6)	(324.5)	(75.7)
Optimal Blue
Adjustments to reconcile net (loss) earnings to net cash used in operating activities:
Equity in (earnings) losses of unconsolidated affiliates	13.8	9.4	0.0
Cash flows from investing activities:
Investments in unconsolidated affiliates, Dun & Bradstreet, net of capitalized syndication fees	$ 0.0	$ (289.0)	$ 0.0

Business and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business and Summary of Significant Accounting Policies

The following describes the significant accounting policies of Cannae Holdings, Inc. and its subsidiaries (collectively, “we,” “us,” “our,” "Cannae," or the "Company”), which have been followed in preparing the accompanying Consolidated Financial Statements.

Description of Business

We primarily acquire interests in operating companies and are engaged in actively managing and operating a core group of those companies, which we are committed to supporting for the long-term. From time to time, we also seek to take meaningful majority and minority equity ownership stakes where we have the ability to control or significantly influence quality companies, and we bring the strength of our operational expertise to each of our subsidiaries. We are a long-term owner that secures control and governance rights of other companies primarily to engage in their lines of business and we have no preset time constraints dictating when we sell or dispose of our businesses. We believe that our long-term ownership and active involvement in the management and operations of companies helps maximize the value of those businesses for our shareholders. Our primary assets as of December 31, 2021 include our ownership interests in Dun & Bradstreet Holdings, Inc. ("Dun & Bradstreet" or "D&B"), Ceridian HCM Holding, Inc. ("Ceridian"), Alight, Inc. ("Alight"), Paysafe Limited ("Paysafe"), Sightline Payments Holdings, LLC ("Sightline" or "Sightline Payments"), Optimal Blue Holdco, LLC ("Optimal Blue") and AmeriLife Group, LLC ("AmeriLife"); majority equity ownership stakes in O'Charley's Holdings, LLC ("O'Charley's") and 99 Restaurants Holdings, LLC ("99 Restaurants"); various other controlled portfolio companies and certain minority equity ownership interests.

See Note Q Segment Information for further discussion of the businesses comprising our reportable segments.

We conduct our business through our wholly-owned subsidiary Cannae Holdings, LLC ("Cannae LLC"), a Delaware limited liability company. Our board of directors ("Board") oversees the management of the Company, Cannae LLC and its businesses, and the performance of our external manager, Trasimene Capital Management, LLC (“Trasimene” or our “Manager”).

Split-off of Cannae from FNF

On November 17, 2017, Fidelity National Financial, Inc. (“FNF”) redeemed each outstanding share of its FNF Ventures ("FNFV") Group common stock, par value $0.0001, for one share of common stock, par value $0.0001, of a newly formed entity, Cannae (the "Split-Off"). In conjunction with the Split-Off, FNF contributed to us its portfolio of investments unrelated to its primary insurance and real estate operations, which included majority and minority equity ownership interests in a number of entities and certain fixed income investments. On November 20, 2017, Cannae common stock began “regular-way” trading on The New York Stock Exchange under the “CNNE” stock symbol.

Following the Split-Off, FNF and Cannae operate as separate, publicly-traded companies. In connection with the Split-Off, FNF and Cannae entered into certain agreements in order to govern certain of the ongoing relationships between the two companies after the Split-Off and to provide for an orderly transition. These agreements include a reorganization agreement, a corporate services agreement, a registration rights agreement, a voting agreement and a tax matters agreement.

The reorganization agreement provides for, among other things, the principal corporate transactions (including the internal restructuring) required to effect the Split-Off, certain conditions to the Split-Off and provisions governing the relationship between Cannae and FNF with respect to and resulting from the Split-Off. The tax matters agreement provides for the allocation and indemnification of tax liabilities and benefits between FNF and Cannae and other agreements related to tax matters. The voting and registration rights agreements provide for certain appearance and voting restrictions and registration rights on shares of Cannae owned by FNF after consummation of the Split-Off. Pursuant to the corporate services agreement (the "CSA"), FNF has provided Cannae with certain "back office" services including legal, tax, accounting, treasury and investor relations support. Cannae will reimburse FNF for direct, out-of-pocket expenses incurred by FNF in providing these services.

On October 7, 2020, the Company entered into an Extension of Corporate Services Agreement (the “Extension”) with FNF. Pursuant to the Extension, the term of the CSA was extended for two years until November 17, 2022 (the “Extended Term”). During the Extended Term, FNF will provide certain corporate services to Cannae at FNF’s Standard Allocation (as defined in the CSA), plus 10%, and Cannae agrees to pay or reimburse FNF for any fees, costs or other expenses paid by FNF to third parties in connection with the corporate services. The CSA will automatically renew for successive one-year terms,

unless the parties mutually agree to terminate the CSA at least thirty days prior to the applicable termination date. No later than 30 days prior to such termination date, the parties shall negotiate mutually agreeable arm’s length terms for each additional one year term.

Principles of Consolidation and Basis of Presentation

The accompanying Consolidated Financial Statements are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and include the historical accounts as well as wholly-owned and majority-owned subsidiaries of the Company. The Company is allocated certain corporate overhead and management services expenses from FNF based on the terms of the CSA and our proportionate share of the expense determined on actual usage and our best estimate of management's allocation of time. Both FNF and Cannae believe such allocations are reasonable; however, they may not be indicative of the actual results of operations or cash flows of the Company had the Company been operating as an independent, publicly traded company for the periods presented or the amounts that will be incurred by the Company in the future. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All adjustments made were of a normal, recurring nature.

All intercompany profits, transactions and balances have been eliminated. Our ownership interests in non-majority-owned partnerships and affiliates are accounted for under the equity method of accounting or as equity securities. Earnings attributable to noncontrolling interests are recorded on the Consolidated Statements of Operations relating to majority-owned subsidiaries with the appropriate noncontrolling interest that represents the portion of equity not related to our ownership interest recorded on the Consolidated Balance Sheets in each period.

Management Estimates

The preparation of these Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by management include the carrying amount and depreciation of property and equipment (Note E), the valuation of acquired intangible assets (Note H and Note I), fair value measurements (Note C), and accounting for income taxes (Note L). Actual results could differ from estimates.

Recent Developments

Ceridian

On May 20, 2021, we completed the sale of 2.0 million shares of common stock of Ceridian pursuant to Rule 144 promulgated under the Securities Act of 1933, as amended ("Rule 144"). In connection with the sale, we received proceeds of $175.0 million.

In September 2021, we completed the sale of 1.0 million shares of common stock of Ceridian for proceeds of $100.0 million pursuant to the terms of a covered call agreement.

On October 21, 2021, we completed the sale of an additional 1.0 million shares of common stock of Ceridian pursuant to Rule 144. In connection with the sale, we received proceeds of $125.8 million in October 2021.

As of December 31, 2021, we owned 10.0 million shares of Ceridian common stock which represented approximately 6.6% of the outstanding common stock of Ceridian.

See Notes C and D for further discussion of our accounting for our investment in Ceridian and other equity securities.

In January 2022, we completed the sales of an additional 2.0 million shares of common stock of Ceridian pursuant to Rule 144. In connection with the sales, we received gross proceeds of $173.3 million in January 2022. As of the date of this Annual Report, we own 8.0 million shares of Ceridian common stock which represented approximately 5.3% of the outstanding common stock of Ceridian.

Dun & Bradstreet

On January 8, 2021, D&B completed its acquisition of Bisnode Business Information Group AB (the "Bisnode Acquisition"). In connection with the Bisnode Acquisition, D&B issued an additional 6.2 million shares of its common stock, which resulted in a decrease in our ownership interest in D&B from approximately 18.1% to approximately 17.7% and a non-cash gain of $18.6 million in the year ended December 31, 2021.

On June 28, 2021, we completed the sale of an aggregate of 8.5 million shares of common stock of D&B (the "D&B Share Sale") pursuant to Rule 144. In connection with the D&B Share Sale, we received aggregate proceeds of $186.0 million and

recorded a gain of $111.1 million. As a result of the D&B Share Sale, we now own 68.1 million shares of D&B, which represents approximately 15.8% of its outstanding common stock as of December 31, 2021.

See Note D for further discussion of our accounting for our ownership interest in D&B.

On February 15, 2022, we received 21.8 million shares of D&B as partial consideration for our sale of Optimal Blue. Subsequently, we transferred 1.6 million of the shares received to our Manager as part of our carried interest paid related to the sale. See discussion under the header Optimal Blue below for further information. Following the receipt of these additional shares of D&B and payment of carried interest, we own 88.3 million shares of D&B which represents approximately 20.5% of its outstanding common stock.

Alight

On January 25, 2021, Foley Trasimene Acquisition Corp. ("FTAC") entered into a business combination agreement with predecessor of Alight, a leading cloud-based provider of integrated digital human capital and business solutions, as amended and restated April 29, 2021, by and among FTAC, Alight and other parties thereto (the "FTAC Alight Business Combination"). Also on January 25, 2021, Cannae entered into an agreement to purchase 25 million shares of Alight for $250.0 million as part of a private investment in public equity ("PIPE") raised in conjunction with the FTAC Alight Business Combination (the "Alight Subscription Agreement").

During the quarter ended June 30, 2021, Cannae funded the following: (a) $250.0 million pursuant to the Alight Subscription Agreement, (b) $150.0 million pursuant to a previously announced forward purchase agreement with FTAC (the "FTAC FPA") entered into on May 8, 2020 and (c) $52.4 million for the purchase of 5.2 million shares of FTAC on the open market (the "Purchased Shares"). In July 2021, we sold 1.0 million of the Purchased Shares for aggregate proceeds of $10.3 million.

On July 2, 2021, FTAC completed the FTAC Alight Business Combination in accordance with the relevant business combination agreement. The combined company operates as Alight and is traded on the New York Stock Exchange ("NYSE") under the symbol ALIT. The FTAC Alight Business Combination was funded with the cash held in trust at FTAC, forward purchase commitments, PIPE commitments and equity of Alight.

For Cannae’s total net investment in Alight of $446.6 million, inclusive of our previous $4.5 million investment in the sponsor of FTAC (the "FTAC Sponsor") and net of the Purchased Shares sold, Cannae received 50,390,129 common shares and 5,000,000 warrants of Alight (the "Alight Warrants") and 3,026,666 LLC units of Alight's operating subsidiary with substantially the same terms as Alight's public warrants and indirectly held by the Company through its interest in the FTAC Sponsor. In connection with our participation in the PIPE and deal syndication, Cannae earned $6.1 million of fees which were deducted from the basis of our ownership interest in Alight.

On November 29, 2021, Alight announced the redemption of all of its outstanding warrants to purchase shares of the Alight’s Class A common stock. In accordance with the warrant agreement, upon delivery of the notice of redemption, the warrants could be exercised either for cash or on a cashless basis in exchange for common shares of Alight. We elected the cashless exercise and in December 2021 we received 1,300,000 shares of Alight's Class A Common Stock directly and 786,933 shares indirectly through our ownership interest in the FTAC Sponsor.

As of December 31, 2021, Cannae directly and indirectly through the FTAC Sponsor owns 52.5 million shares of Alight which represented approximately 10.0% of its outstanding common equity. We account for our direct ownership interest in common equity of Alight and ownership in the FTAC Sponsor as equity method investments.

See Note D for further discussion of our accounting for our ownership interest in Alight.

Paysafe

On March 30, 2021, Foley Trasimene Acquisition Corp. II ("FTAC II") completed its previously announced merger with Paysafe Limited ("Paysafe"), a leading integrated payments platform (the "FTAC II Paysafe Merger"), in accordance with the agreement and plan of merger dated December 7, 2020. The combined company operates as Paysafe and is traded on the NYSE under the symbol PSFE. The FTAC II Paysafe Merger was funded with the cash held in trust at FTAC II, forward purchase commitments, PIPE commitments and equity of Paysafe.

In conjunction with the FTAC II Paysafe Merger, Cannae funded: (a) $350.0 million as part of our subscription to the PIPE (the "Paysafe Subscription Agreement" and collectively with the Alight Subscription Agreement the "Subscription Agreements") and (b) $150.0 million as part of our forward purchase agreement with FTAC II entered into on July 31, 2020 (the "FTAC II FPA"). For Cannae’s total investment in Paysafe of $504.7 million, inclusive of our previous investment in the sponsor of FTAC II ("FTAC II Sponsor"), Cannae received 54,294,395 common shares and 5,000,000 Paysafe warrants and

3,134,067 LLC units of Paysafe's operating subsidiary with substantially the same terms as Paysafe's public warrants (collectively, the "Paysafe Warrants"). In connection with our participation in the PIPE, Paysafe paid Cannae a fee of $5.6 million as described in the agreement and plan of merger dated December 7, 2020, which was deducted from the basis of our ownership interest.

In September 2021, the sponsor of FTAC II distributed all of its interest in Paysafe to its limited partners. As a result, Cannae now directly holds all of its interest in common equity of Paysafe and Paysafe Warrants.

In December of 2021, Cannae purchased 5.7 million shares of Paysafe on the open market for $22.4 million.

As of December 31, 2021, Cannae directly owns 59.8 million shares which represented approximately 8.3% of the outstanding common equity of Paysafe. We account for our ownership of the common equity of Paysafe under the equity method of accounting and the Paysafe Warrants as a derivative.

See Notes C and D for further discussion of our accounting for our ownership interest in common equity and warrants of Paysafe.

Optimal Blue

On February 15, 2022, we completed the disposition of our ownership interests in Optimal Blue to Black Knight, Inc. (“Black Knight”) and its subsidiaries (the “Optimal Blue Disposition”), pursuant to a purchase agreement dated as of February 15, 2022, by and among Black Knight, Cannae, and Optimal Blue, among others. In conjunction with the Optimal Blue Disposition, Cannae received aggregate consideration of (y) $144.5 million in cash and (z) 21.8 million shares of common stock, par value $0.0001 per share, of Dun & Bradstreet. Following the consummation of the Optimal Blue Disposition, Cannae no longer has any ownership interest in Optimal Blue.

Forward Purchases of Equity of Special Purpose Acquisition Companies

On February 25, 2021, we entered into a forward purchase agreement (the "AAI FPA") with Austerlitz Acquisition Corporation I (“AAI”), a special purpose acquisition company ("SPAC") whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities (the "AAI Initial Business Combination"). AAI is co-sponsored by entities affiliated with the chairman of our Board of Directors ("Board"), William P. Foley II. Additionally, Cannae invested $1.6 million in the sponsor of AAI for a 10% indirect economic interest in the founder shares and warrants held by the sponsor. The AAI FPA was contingent upon the closing of the AAI Initial Business Combination.

On May 10, 2021, AAI entered into a Business Combination Agreement (the “WIL Business Combination Agreement”) by and among AAI, Wave Merger Sub Limited, an exempted company incorporated in Bermuda and a direct, wholly owned subsidiary of AAI (“Merger Sub”), and Wynn Interactive Ltd., an exempted company incorporated in Bermuda (“WIL”).

In connection with the signing of the WIL Business Combination Agreement, we and AAI terminated the AAI FPA, and we entered into a backstop facility agreement (the "WIL Backstop Agreement") whereby we agreed, subject to the other terms and conditions included therein, to subscribe for AAI Class A Ordinary Shares in order to fund redemptions by shareholders of AAI in connection with the WIL Business Combination Agreement, in an amount of up to $690.0 million (the "WIL Backstop Subscription"), in consideration for a placement fee of $3.5 million.

On November 11, 2021, we and AAI entered into a mutual termination agreement (the "Mutual Termination Agreement") to terminate the WIL Business Combination Agreement. In conjunction with the Mutual Termination Agreement, AAI received $5.0 million as reimbursement for out-of-pocket expenses. As a result of the termination of the WIL Business Combination Agreement, both the Backstop Agreement and the Amended and Restated Sponsor Agreement were automatically terminated.

On February 25, 2021, we entered into a forward purchase agreement (the "AAII FPA") with Austerlitz Acquisition Corp. II ("AAII"), a SPAC whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities (the "AAII Initial Business Combination"). AAII is co-sponsored by entities affiliated with William P. Foley II. Under the AAII FPA, we agreed to purchase an aggregate of 12,500,000 shares of AAII’s Class A common stock, plus an aggregate of 3,125,000 redeemable warrants to purchase one share of AAII's Class A common stock at $11.50 per share for an aggregate purchase price of $125.0 million in a private placement to occur concurrently with the closing of the AAII Initial Business Combination. Additionally, Cannae directly invested $29.6 million for a 20% indirect economic interest in the founder shares held by the sponsor and a direct interest in 19,733,333 private placement warrants of AAII (the "AAII Warrants") at the initial public offering. The AAII FPA is contingent upon the closing of the AAII Initial Business Combination.

On June 5, 2020, we entered into a forward purchase agreement (the "Trebia FPA") with Trebia Acquisition Corp. ("Trebia"), a SPAC incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities (the "Trebia Initial Business Combination"). Trebia is co-sponsored by entities affiliated with the chairman and a member of our Board, William P. Foley II and Frank R. Martire, respectively.

On June 28, 2021, Trebia entered into a business combination agreement by and among Trebia, S1 Holdco LLC, a Delaware limited liability company ("S1 Holdco"), System1 SS Protect Holdings, Inc., a Delaware corporation ("Protected"), and the other parties named therein (the "Trebia S1 Business Combination Agreement"). The Trebia S1 Business Combination Agreement provides for, among other things, the consummation of certain transactions whereby each of (i) System1, LLC, a Delaware limited liability company and the current operating subsidiary of S1 Holdco, and (ii) Protected.net Group Limited, a private limited company organized under the laws of the United Kingdom and the current operating subsidiary of Protected, will become subsidiaries of Trebia (the "Trebia S1 Business Combination").

In connection with the signing of the Trebia S1 Business Combination Agreement, we and Trebia terminated the Trebia FPA, and we entered into a backstop facility agreement (the "S1 Backstop Agreement" and together with the WIL Backstop Agreement, the "Backstop Agreements") whereby we agreed, subject to the other terms and conditions included therein, to subscribe for Trebia Class A Common Stock in order to fund redemptions by shareholders of Trebia in connection with the Business Combination, in an amount of up to $200.0 million (the "S1 Backstop Subscription"). In connection with Cannae’s entry into the S1 Backstop Agreement, the sponsors of Trebia have agreed to forfeit up to 1,275,510 Trebia Class B Ordinary Shares (and Trebia has agreed to issue to Cannae a number of shares of Trebia Class A Common Stock equal to such forfeiture) as consideration in the event that the S1 Backstop Subscription is drawn due to redemptions.

On January 10, 2022, we entered into an amendment to the S1 Backstop Agreement pursuant to which our commitment to fund redemptions increased from $200.0 million to $250.0 million. Also on January 10, 2022, we entered into an amended and restated sponsor agreement with the sponsors or Trebia pursuant to which Trebia will forfeit up to an additional 1,352,941 Class B Ordinary Shares to Trebia, and Trebia will issue to Cannae an equal number of shares of Trebia Class A Common Stock in connection with, and based upon the extent of, Cannae’s obligation with respect to the increase in our backstop commitment.

On January 27, 2022, the Trebia System1 Business Combination was completed and System1 merged with and into Trebia, with System1, Inc. ("System1") as the surviving corporation. Beginning on January 28, 2022, System1’s common stock began trading on the NYSE under the ticker symbol “SST.” Upon the completion of the Trebia System1 Business Combination, Cannae has invested a total of $248.3 million in System1, directly and indirectly owns 28.2 million of System1 common shares and 1.2 million warrants to purchase SST common shares. As a result, Cannae has an approximate 26% ownership of System1.

Refer to Note C and G for further discussion of our accounting for the AAII FPA, the AAII Warrants and the S1 Backstop Agreement.

QOMPLX

On March 1, 2021, Tailwind Acquisition Corp. ("Tailwind") entered into a business combination agreement to merge with QOMPLX, Inc. ("QOMPLX") (the "Tailwind QOMPLX Merger"). In conjunction with the Tailwind QOMPLX Merger, Cannae entered into an agreement to purchase 4.6 million shares of common stock of the combined company for $37.5 million as part of a subscription to the PIPE. Additionally, in March 2021, Cannae funded a convertible note to QOMPLX for $12.5 million that matures on March 3, 2022 (the "QOMPLX Note"). During the quarter ended September 30, 2021, Cannae funded an additional $6.0 million, which was added to the existing QOMPLX Note.

On August 17, 2021, QOMPLX and Tailwind mutually agreed to terminate the Tailwind QOMPLX Merger citing market conditions, which prevented certain closing conditions from being satisfied. The termination of the Tailwind QOMPLX Merger also terminated the Tailwind Subscription Agreement. The termination had no effect on the QOMPLX Note.

In November 2021, QOMPLX converted all of its outstanding convertible notes into preferred stock and redeemed $7.5 million of such preferred stock held by Cannae. As a result, Cannae holds approximately 14.5 million shares of preferred stock of QOMPLX representing approximately 19.3% of QOMPLX’s outstanding equity.

Restaurant Group

During the year ended December 31, 2021, we commenced a plan to sell or dispose of the assets of Legendary Baking Holdings I, LLC ("Legendary Baking") and VIBSQ Holdco, LLC ("VIBSQ") and their subsidiaries.

On June 24, 2021, we entered into a membership purchase agreement for the sale of certain net assets of VIBSQ and its subsidiaries for $13.5 million. On July 30, 2021, we closed on the sale of such VIBSQ net assets and recorded a loss of

$9.4 million, which is included in Recognized gains (losses), net on the Consolidated Statement of Operations for the year ended December 31, 2021.

On August 10, 2021, we entered into an asset purchase agreement for the sale of certain net assets of Legendary Baking and its subsidiaries for $6.1 million and we recorded a loss of $7.0 million as a result of classifying Legendary Baking as held for sale. On September 7, 2021, we closed on the sale and recorded an additional loss of $3.9 million. Both losses are included in Recognized gains (losses), net on the Consolidated Statement of Operations in the year ended December 31, 2021.

Subsequent to the transactions, other than the winding down of certain immaterial retained assets and liabilities of Legendary Baking and VIBSQ, we have no further material involvement in Legendary Baking or VIBSQ.

Other Developments

Our Board authorized a three-year stock repurchase program (the "2021 Repurchase Program"), effective February 26, 2021, under which the Company may repurchase up to 10 million shares of its common stock. Purchases may be made from time to time in the open market at prevailing prices or in privately negotiated transactions through February 26, 2024. The repurchase program does not obligate the Company to acquire any specific number of shares and may be suspended or terminated at any time. We repurchased 4,828,168 shares of CNNE common stock during the year ended December 31, 2021 for approximately $167.3 million in the aggregate, or an average of $34.65 per share, pursuant to the three-year stock purchase program effective September 19, 2019 and the 2021 Repurchase Program.

On March 31, 2021, we closed on a $32.0 million acquisition of an ownership interest in Sightline Payments LLC ("Sightline"), a fintech company that enables cashless, mobile and omnichannel payment solutions for the gaming, lottery, sports betting, entertainment and hospitality businesses. On August 16, 2021, we acquired an additional $240.0 million of ownership interest in Sightline. Our total ownership interest represents 32.6% of the outstanding membership interests in Sightline at the time of the transaction and is accounted for using the equity method.

See Note C and D for further discussion of the Company's accounting for ownership interests in unconsolidated affiliates.

During the year ended December 31, 2021, we received distributions of $283.2 million from our joint venture (the "Senator JV") with affiliates of Senator Investment Group, LP. In 2020, we received an aggregate of $198.6 million of distributions from the Senator JV. Of the distributions received in 2020, $25.8 million represented the return of our deposit previously held by the Senator JV and the remainder resulted from the Senator JV's sales of CoreLogic, Inc. Using the cumulative earnings approach, $126.4 million of the distributions resulting from the Senator JV in the year ended December 31, 2020 are considered a return on our investment in the Senator JV and are classified as cash inflows from operating activities in our Consolidated Statement of Cash Flows for the year ended December 31, 2020. We have no further material ownership interest in the Senator JV.

On May 21, 2021, Ceska zbrojovka Group SE (“CZG”) acquired 100% of the outstanding equity of Colt Holdings, LLC ("Colt"). In conjunction with the transaction, we received $37.3 million for our holdings of Colt corporate debt securities, including accrued interest thereon, $1.4 million for our equity in Colt and received $0.4 million of cash and $3.6 million of CZG equity securities for our holdings of Colt equity interests in October 2021. We recorded a gain of $20.3 million on the transaction, inclusive of $10.9 million (net of $2.9 million of deferred taxes) of gains reclassified from other comprehensive earnings. We have the opportunity to receive additional equity securities of CZG contingent on future operating results of Colt. Subsequent to the transaction, we have no further ownership interest in Colt debt or equity securities.

During the year ended December 31, 2021, we commenced a plan to sell Rock Creek Idaho Holdings, LLC ("RC"). On August 10, 2021, we entered into an asset purchase agreement for the sale of certain net assets of RC and its subsidiaries for $44.2 million, consisting of cash of $9.2 million, net of transaction costs, and a note receivable of $35.0 million. We recorded a gain of $18.9 million as a result of the sale, which is included in Recognized gains (losses), net on the Consolidated Statement of Operations for the year ended December 31, 2021. The chairman of our Board, William P. Foley II is a partner in the joint venture that purchased RC. The Company collected the full amount of the note receivable, plus interest, prior to December 31, 2021. Subsequent to the transaction, we have no further involvement in RC.

On October 14, 2021, Capital One Financial Corporation announced that it entered into a definitive agreement to purchase Triple Tree, LLC ("Triple Tree"), the investment banking subsidiary of Triple Tree Holdings, LLC ("TTH"). Cannae owns a 24.6% fully diluted interest in TTH. As a result of the sale, the two businesses comprising TTH became two separate organizations. TripleTree joined the Capital Markets group of Capital One Commercial Bank as a wholly owned subsidiary, operating under the current TripleTree brand. TTCP Management Services, LLC, continues as an independent, Minneapolis-based principal investor focused on healthcare technology and services. The transaction closed in November 2021 and we received $35.2 million of distributions from TTH related to the sale. On January 18, 2022, we received an additional distribution of $14.0 million.

Cash and Cash Equivalents

Highly liquid instruments, including money market instruments, purchased as part of cash management with original maturities of three months or less, and certain amounts in transit from credit and debit card processors, are considered cash equivalents. The carrying amounts reported in the Consolidated Balance Sheets for these instruments approximate their fair value.

Investments

Equity securities include our investment in Ceridian and are carried at fair value.

Investments in unconsolidated affiliates are recorded using the equity method of accounting.

Fixed maturity securities, which may be sold prior to maturity, are carried at fair value and are classified as available for sale as of the balance sheet dates. Fair values for fixed maturity securities are principally a function of current market conditions and are valued based on quoted prices in markets that are not active or model inputs that are unobservable. Discount or premium is recorded for the difference between the purchase price and the principal amount. The discount or premium is amortized or accrued using the interest method and is recorded as an adjustment to interest, investment and other income. The interest method results in the recognition of a constant rate of return on the investment equal to the prevailing rate at the time of purchase or at the time of subsequent adjustments of book value.

Recognized gains and losses on the sale of investments are determined on the basis of the cost of the specific investments sold and are credited or charged to income on a trade date basis. Unrealized gains or losses on fixed maturity securities, which are classified as available for sale, net of applicable deferred income tax expenses (benefits), are excluded from earnings and credited or charged directly to a separate component of equity. If any unrealized losses on available for sale fixed maturity securities are determined to be other-than-temporary, such unrealized losses are recognized as realized losses. Unrealized losses are considered other-than-temporary if factors exist that cause us to believe that the value will not increase to a level sufficient to recover our cost basis. Some factors considered in evaluating whether or not a decline in fair value is other-than-temporary include (i) our need and intent to sell the investment prior to a period of time sufficient to allow for a recovery in value; (ii) the duration and extent to which the fair value has been less than cost; and (iii) the financial condition and prospects of the issuer. Such reviews are inherently uncertain and the value of the investment may not fully recover or may decline in future periods resulting in a realized loss.

See Notes C and D for further discussion of our accounting for equity securities and investments in unconsolidated affiliates.

Fair Value of Financial Instruments

The fair value of financial instruments presented in the Consolidated Financial Statements are estimates of the fair value at a specific point in time using available market information and appropriate valuation methodologies. Estimates that use unobservable inputs are subjective in nature and involve uncertainties and significant judgment in the interpretation of current market data. We do not necessarily intend to dispose of or liquidate such instruments prior to maturity. See Note C for further details.

Distributions from Unconsolidated Affiliates

We classify distributions received from unconsolidated affiliates in our Consolidated Statements of Cash Flows using the cumulative earnings approach. Under the cumulative earnings approach, distributions are considered returns on investment and classified as cash inflows from operating activities unless the Company’s cumulative distributions from an investee received in prior periods exceed the cumulative equity in earnings of such investee. When cumulative distributions from an investee exceed cumulative equity in earnings of the investee, such excess is considered a return of investment and is classified as a cash inflow from investing activities.

Other Current Assets

Prepaid expenses and other current assets consist of trade receivables, inventory, prepaid operating expenses, the current portion of notes receivable, deposits and other miscellaneous current assets.

Trade receivables are primarily for the Restaurant Group and consist primarily of business to business gift card sales, insurance-related reimbursement, rebates, tenant improvement allowances, and billings to franchisees for royalties, initial and renewal fees, equipment sales and rent. Trade receivables are recorded net of an allowance for doubtful accounts, which is our best estimate of the amount of probable credit losses related to existing receivables. The carrying values reported in the Consolidated Balance Sheets for trade receivables approximate their fair value.

Inventory primarily consists of food, beverages, packaging and supplies in our Restaurant Group segment and is stated at the lower of cost or net realizable value. Cost is determined using the first in, first out method for restaurant inventory and standard cost that approximates actual cost on a first in, first out basis for the bakery operations.

Other Long Term Investments and Non-Current Assets

Other long-term investments consist mainly of investments in equity securities without a readily determinable fair value. See Note D for further discussion of our accounting for equity securities without a readily determinable fair value.

Other non-current assets also includes notes receivable from third-parties and other miscellaneous non-current assets.

Leases

Refer to Note B.

Goodwill

Goodwill represents the excess of cost over fair value of identifiable net assets acquired and assumed in business combinations. Goodwill and other intangible assets with indefinite useful lives are reviewed for impairment annually or more frequently if circumstances indicate potential impairment, through a comparison of fair value to the carrying amount. We have the option to first assess goodwill for impairment based on a review of qualitative factors to determine if events and circumstances exist that will lead to a determination that the fair value of a reporting unit is greater than its carrying amount, prior to performing a full fair-value assessment. If, after assessing the totality of events or circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the quantitative impairment test is unnecessary. However, if the Company concludes otherwise, then it is required to perform the quantitative impairment test by calculating the fair value of the reporting unit and comparing the fair value with the carrying amount of the reporting unit. Goodwill impairment, if any, is measured as the amount by which a reporting unit’s carrying value exceeds its fair value.

For the year ended December 31, 2021, we did not have any impairment of goodwill.

For the year ended December 31, 2020, we recorded $7.8 million of impairment to goodwill in our Restaurant Group segment. The impairment charge is a result of deteriorating operating results and cash flow resulting from declining same store sales and increased costs at O'Charley's. The impairment recorded was calculated as the deficit between the carrying value of our O'Charley's reporting unit of our Restaurant Group compared to the fair value of the reporting unit determined by performing a combination of discounted cash flow and market approaches.

For the year ended December 31, 2019 we recorded $35.1 million of impairment to goodwill in our former T-System segment and $10.4 million of impairment to goodwill in our Restaurant Group segment. The impairment in our former T-System segment is primarily a result of a decline in earnings multiples from comparable public companies and lower forecasted cash flows for its reporting units. The impairment charge in our Restaurant Group is a result of deteriorating operating results and cash flow resulting from declining same store sales and increased costs, primarily in our Village Inn and Bakers Square branded stores. The impairments recorded were calculated as the deficit between the carrying value of the reporting units of each segment compared to the fair value of the reporting unit determined by performing a combination of discounted cash flow and market approaches.

Impairment to goodwill in our former T-System segment is included in Net loss from discontinued operations on the Consolidated Statement of Operations for the year ended December 31, 2019. See Note N.

Other Intangible Assets

We have other intangible assets, not including goodwill, which consist primarily of customer relationships and contracts, trademarks and tradenames that are generally recorded in connection with acquisitions at their fair value, franchise rights, the fair value of purchased software and capitalized software development costs. Intangible assets with estimable lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. In general, customer relationships are amortized over their estimated useful lives using an accelerated method, which takes into consideration expected customer attrition rates. Contractual relationships are generally amortized over their respective contractual lives. Useful lives of computer software range from three to ten years. Capitalized software development costs and purchased software are recorded at cost and amortized using the straight-line method over their estimated useful life.

Trademarks and tradenames were generally considered intangible assets with indefinite lives and reviewed for impairment at least annually. In conjunction with our annual testing for impairment of tradenames during the fourth quarter of 2020 and in light of the deteriorating operating environment for restaurants, we changed our estimate of the useful lives of our tradenames

for all of our restaurant brands from indefinite to fifteen years. The impact of such change on the Company's consolidated income is not considered material.

We recorded $11.8 million of impairment expense related to the O'Charley's tradename within our Restaurant Group in the year ended December 31, 2020. We recorded $17.1 million of impairment expense related to the Village Inn and Bakers Square tradenames within our Restaurant Group in the year ended December 31, 2019. The impairments are recorded within Other operating expenses, including asset impairments, on our Consolidated Statement of Operations for the years then ended.

Property and Equipment, net

Property and equipment, net are recorded at cost, less accumulated depreciation. Depreciation is computed primarily using the straight-line method based on the estimated useful lives of the related assets: thirty to forty years for buildings and three to twenty-five years for furniture, fixtures and equipment. Leasehold improvements are amortized on a straight-line basis over the lesser of the term of the applicable lease or the estimated useful lives of such assets.

In our Restaurant Group, all direct external costs associated with obtaining the land, building and equipment for each new restaurant, as well as construction period interest, are capitalized. Direct external costs associated with obtaining the dining room and kitchen equipment, signage and other assets and equipment are also capitalized. In addition, for each new restaurant and re-branded restaurant, a portion of the internal direct costs of its real estate and construction department are also capitalized.

Property and equipment are reviewed for impairment when events or circumstances indicate that the carrying amounts may not be recoverable. We recorded $0.2 million, $3.5 million, and $6.6 million of impairment expense related to Property and equipment in our Restaurant Group segment in the years ended December 31, 2021, 2020 and 2019, respectively, which is recorded within Other operating expenses, including asset impairments, on our Consolidated Statements of Operations for the years then ended.

Insurance Reserves

Our Restaurant Group companies are currently self-insured for a portion of its workers' compensation, general liability, and liquor liability losses (collectively, casualty losses) as well as certain other insurable risks. To mitigate the cost of the Restaurant Group's exposures for certain property and casualty losses, we make annual decisions to either retain the risks of loss up to a certain maximum per occurrence, aggregate loss limits negotiated with its insurance carriers, or fully insure those risks. Our Restaurant Group companies are also self-insured for healthcare claims for eligible participating employees subject to certain deductibles and limitations. We have accounted for such retained liabilities for casualty losses and healthcare claims, including reported and incurred but not reported claims, based on information provided by third-party actuaries. As of December 31, 2021, our Restaurant Group companies were committed under letters of credit totaling $10.8 million issued primarily in connection with casualty insurance programs.

Income Taxes

We recognize deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of our assets and liabilities and expected benefits of utilizing net operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The impact of changes in tax rates and laws on deferred taxes, if any, is applied to the years during which temporary differences are expected to be settled and reflected in the financial statements in the period enacted.

We recognize the benefits of uncertain tax positions in the financial statements only after determining a more likely than not probability that the uncertain tax positions will withstand challenge, if any, from taxing authorities. When facts and circumstances change, we reassess these probabilities and record any changes in the financial statements as appropriate. Uncertain tax positions are accounted for by determining the minimum recognition threshold that a tax position is required to meet before being recognized in the financial statements. This determination requires the use of judgment in assessing the timing and amounts of deductible and taxable items. Tax positions that meet the more likely than not recognition threshold are recognized and measured as the largest amount of tax benefit that is more than 50% likely to be realized upon settlement with a taxing authority that has full knowledge of all relevant information. The Company recognizes interest and penalties accrued related to unrecognized tax benefits as components of income tax expense.

Revenue Recognition

Refer to Note O.

Advertising Costs

The Company expenses advertising and marketing costs as incurred, except for certain advertising production costs that are initially capitalized and subsequently expensed the first time the advertising takes place. During the years ended December 31, 2021, 2020, and 2019, the Company incurred $16.0 million, $15.7 million, and $30.0 million of advertising and marketing costs, respectively, related to advertising in our Restaurant Group and in our real estate operations. These costs are included in Other operating expenses on the Consolidated Statements of Operations.

Comprehensive Earnings

We report comprehensive earnings in accordance with GAAP on the Consolidated Statements of Comprehensive Earnings. Total comprehensive earnings are defined as all changes in shareholders' equity during a period, other than those resulting from investments by and distributions to shareholders. While total comprehensive earnings is the activity in a period and is largely driven by net earnings in that period, accumulated other comprehensive earnings or loss represents the cumulative balance of other comprehensive earnings, net of tax, as of the balance sheet date. Amounts reclassified to net earnings relate to realized losses and are included in Recognized gains and losses, net on the Consolidated Statements of Operations. Our policy is to release income tax effects from accumulated other comprehensive income at such time as the earnings or loss of the related activity are recognized in earnings (e.g., upon sale of an investment).

Changes in the balance of other comprehensive earnings by component are as follows:


	Unrealized (loss) gain on investments and other financial instruments, net (excluding investments in unconsolidated affiliates)		Unrealized (loss) gain relating to investments in unconsolidated affiliates		Total Accumulated Other Comprehensive (Loss) Earnings
	(In millions)








Balance December 31, 2019	$	(0.5)	$	(45.4)	$	(45.9)
Other comprehensive earnings (loss)	10.7		(15.9)		(5.2)
Reclassification adjustments	—		46.2		46.2
Balance December 31, 2020	$	10.2	$	(15.1)	$	(4.9)
Other comprehensive earnings	0.6		5.7		6.3
Reclassification adjustments	(10.8)		2.2		(8.6)
Balance December 31, 2021	$	—	$	(7.2)	$	(7.2)

Stock-Based Compensation Plans

Stock-based compensation expense includes restricted stock awards granted in Cannae common stock to directors and certain members of management. We account for stock-based compensation plans using the fair value method. Under the fair value method of accounting, compensation cost is measured based on the fair value of the award at the grant date, using quoted market prices of the underlying stock, and recognized over the service period.

Earnings Per Share

Basic earnings per share, as presented on the Consolidated Statement of Operations, is computed by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding during the period.

In periods when earnings are positive, diluted earnings per share is calculated by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding plus the impact of assumed conversions of potentially dilutive securities. For periods when we recognize a net loss, diluted earnings per share is equal to basic earnings per share as the impact of assumed conversions of potentially dilutive securities is considered to be antidilutive. We have granted certain shares of restricted stock, which have been treated as common share equivalents for purposes of calculating diluted earnings per share for periods in which positive earnings have been reported.

Instruments that provide the ability to purchase shares of our common stock that are antidilutive are excluded from the computation of diluted earnings per share. For the year ended December 31, 2021, 0.1 million shares of unvested restricted stock were excluded from diluted earnings per share because including such shares would be anti-dilutive. For the years ended December 31, 2020 and 2019, no antidilutive shares were outstanding.

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

We are party to operating lease arrangements primarily for leased real estate for restaurants and office space. Right-of-use assets and lease liabilities related to operating leases under ASC 842 are recorded at commencement when we are party to a contract that conveys the right for the Company to control an asset for a specified period of time. We are not a party to any material contracts considered finance leases. Right-of-use assets and lease liabilities related to operating leases are recorded as Lease assets and Lease liabilities, respectively, on the Consolidated Balance Sheets as of December 31, 2021 and 2020.

Our material operating leases range in term from one year to nineteen years. As of December 31, 2021 and 2020, the weighted-average remaining lease term of our operating leases was approximately ten years. Leases with an initial term of twelve months or less are not recorded on the balance sheet and we recognize lease expense for these leases on a straight-line basis over the lease term.

Our operating lease agreements do not contain any material buyout options, residual value guarantees or restrictive covenants.

Most of our leases include one or more options to renew, with renewal terms that can extend the lease term by varying amounts. The exercise of lease renewal options is at our sole discretion. We include options to renew, not to exceed a total lease term of twenty years, in our measurement of right-of-use assets and lease liabilities when they are considered reasonably certain of exercise. We consider a lease reasonably certain for renewal when the duration of the lease extensions are in the foreseeable future and related to assets for which continued use is reasonably assured.

Excluding certain immaterial classes of leases in our Restaurant Group, we do not separate lease components from non-lease components for any of our right of use assets.

Our operating lease liabilities are determined by discounting future lease payments using a discount rate that represents our best estimate of the incremental borrowing rate our subsidiaries would have to pay to borrow money to finance the asset over the underlying lease term and for an amount equal to the lease payments. Our discount rate is based on interest rates associated with comparable public company secured debt for companies similar to our operating subsidiaries and of similar duration to the underlying lease. As of December 31, 2021 and 2020, the weighted-average discount rate used to determine our operating lease liabilities was 6.97% and 7.08%, respectively.

Our lease costs are directly attributable to restaurant operations, primarily for real estate and to a lesser extent certain restaurant equipment. Operating lease costs of $37.3 million, $43.2 million and $58.5 million are included in Cost of restaurant revenue on the Consolidated Statement of Operations for the years ended December 31, 2021, 2020 and 2019, respectively.

During the years ended December 31, 2021, 2020 and 2019, we recorded impairment expense of $0.4 million, $1.5 million and $21.1 million, respectively, related to lease assets in our Restaurant Group, which is recorded within Other operating expenses on our Consolidated Statement of Operations.

We do not have any material short term lease costs, variable lease costs, or sublease income.

Future payments under operating lease arrangements accounted for under ASC Topic 842 as of December 31, 2021 are as follows (in millions):


2022	$	36.1
2023	32.9
2024	25.1
2025	22.1
2026	20.2
Thereafter	132.6
Total lease payments, undiscounted	$	269.0
Less: discount	79.1
Total operating lease liability as of December 31, 2021, at present value	$	189.9
Less: operating lease liability as of December 31, 2021, current	23.8
Operating lease liability as of December 31, 2021, long term	$	166.1

Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

The fair value hierarchy established by the accounting standards on fair value measurements includes three levels, which are based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. Financial assets and liabilities that are recorded in the Consolidated Balance Sheets are categorized based on the inputs to the valuation techniques as follows:

Level 1. Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we have the ability to access.

Level 2. Financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability.

Level 3. Financial assets and liabilities whose values are based on model inputs that are unobservable.

Recurring Fair Value Measurements

The following table presents our fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 and 2020, respectively:


	December 31, 2021
	Level 1		Level 2		Level 3		Total
	(In millions)
Assets:
Equity securities:
Ceridian	$	1,044.6	$	—	$	—	$	1,044.6
AAII FPA	—		—		0.5		0.5
Total equity securities	1,044.6		—		0.5		1,045.1
Other noncurrent assets:
S1 Backstop Agreement	—		12.0		—		12.0
Paysafe Warrants	5.4		—		—		5.4

AAII Warrants	—		19.3		—		19.3
Total other noncurrent assets	5.4		31.3		—		36.7
Total Assets	$	1,050.0	$	31.3	$	0.5	$	1,081.8


	December 31, 2020
	Level 1		Level 2		Level 3		Total
	(In millions)
Fixed-maturity securities available for sale:
Corporate debt securities	$	—	$	—	$	35.2	$	35.2
Equity securities:
Ceridian	1,491.8		—		—		1,491.8
FTAC FPA and FTAC II FPA	—		—		136.1		136.1
Paysafe Subscription Agreement	—		—		169.6		169.6
Other	1.6		—		—		1.6
Total assets	$	1,493.4	$	—	$	340.9	$	1,834.3

AAII FPA

The AAII FPA is accounted for at fair value pursuant to Accounting Standards Codification ("ASC") Topic 321 Investment - Equity Securities. We utilized a Monte Carlo Simulation in determining the fair value of this agreement, which is considered to be a Level 3 fair value measurement. The Monte Carlo Simulation model simulates the current security price to a simulated date for the consummation of the underlying initial business combination based on probabilities of consummation. The value of the agreement is then calculated as the difference between the future simulated price and the fixed purchase price for the

underlying security to be purchased. The primary unobservable input utilized in determining the fair value of the AAII FPA is the probability of consummation of the business combinations of each underlying transaction. The probability assigned to the consummation of the AAII Initial Business Combination was 80%. Determination of such probability is based on a hybrid approach which considers observed success rates of business combinations for SPACs, the sponsor of AAII's track record for consummating similar transactions and the current market for SPAC transactions. Based on the total fair value of the AAII FPA as of December 31, 2021, changes in the probability utilized will not result in a change in fair value that is significant or material to the Company's financial position or results of operations.

AAII Warrants

The AAII Warrants are accounted for at fair value pursuant to ASC Topic 815 Derivatives and Hedging. These private placement warrants are valued using the trading price of AAII's publicly traded warrants (NYSE: ASZ-WT) and are considered a Level 2 fair value measurement.

S1 Backstop Agreement

The S1 Backstop Agreement is considered a written option and accounted for at fair value. We utilized a Black-Scholes option pricing formula to determine the fair value of the S1 Backstop Agreement, which is considered to be a Level 2 fair value measurement. The value is calculated based on the common stock price of Trebia, the amount of time the S1 Backstop Agreement is expected to be outstanding, risk free rates and the volatility of the underlying common stock of Trebia.

The following table presents a summary of the changes in the fair values of Level 3 assets, measured on a recurring basis.


	Year Ended December 31, 2021
	Corporate debt		Forward Purchase		Subscription		AAII
	securities		Agreements		Agreements		Warrants		Total

Fair value, beginning of period	$	35.2	$	136.1	$	169.6	$	—	340.9

Recognized gain on settlement (1)	1.5		—		—		—		1.5
Net valuation (loss) gain included in earnings (1)	—		(24.2)		7.7		(8.9)		(25.4)
Reclassification to investments in unconsolidated affiliates and Warrants	—		(111.4)		(177.3)		—		(288.7)
Purchase of AAII Warrants	—		—		—		29.6		29.6
Net valuation gain included in other comprehensive earnings (2)	0.6		—		—		—		0.6
Transfers to Level 2	—		—		—		(20.7)		(20.7)
Redemption of corporate debt securities	(37.3)		—		—		—		(37.3)
Fair value, end of period	$	—	$	0.5	$	—	$	—	$	0.5


	Year Ended December 31, 2020
	Corporate debt		Forward Purchase		Subscription
	securities		Agreements		Agreements		Total

Fair value, beginning of period	$	19.2	$	—	$	—	$	19.2

Paid-in-kind dividends	1.3		—		—		1.3
Net valuation gain included in earnings (1)	—		136.1		169.6		305.7
Net valuation gain included in other comprehensive earnings (2)	14.7		—		—		14.7
Fair value, end of period	$	35.2	$	136.1	$	169.6	$	340.9

___________________________________

(1) Included in Recognized gains and (losses), net on the Consolidated Statements of Operations

(2) Included in Unrealized gain on investments and other financial instruments, net (excluding investments in unconsolidated affiliates) on the Consolidated Statements of Comprehensive Earnings (Loss)

Transfers into or out of the Level 3 fair value category occur when unobservable inputs become more or less significant to the fair value measurement or upon a change in valuation technique. We transferred the AAII Warrants from Level 3 to Level 2 in the year ended December 31, 2021 as the price of AAII's publicly traded warrants became available.

All of the unrealized gain on investments and other financial instruments, net (excluding investments in unconsolidated affiliates) on our Consolidated Statements of Comprehensive Income for the years ended December 31, 2021, 2020 and 2019 relate to fixed maturity securities considered Level 3 fair value measures.

Additional information regarding the fair value of our investment portfolio is included in Note D.

The carrying amounts of trade receivables and notes receivable approximate fair value due to their short-term nature. The fair value of our notes payable is included in Note K.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Investments

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Investments

Equity Securities

Gains (losses) on equity securities included in Recognized losses (gains), net on the Consolidated Statements of Operations consisted of the following for the years ended December 31, 2021 and 2020 (in millions):


	Year ended December 31,
	2021		2020
Net (losses) gains recognized during the period on equity securities	$	(52.8)	$	1,991.0
Less: net (losses) gains recognized during the period on equity securities sold or transferred during the period	(32.3)		410.2
Unrealized (losses) gains recognized during the reporting period on equity securities still held at the reporting date	$	(20.5)	$	1,580.8

We recorded no gains or losses on equity securities for the year ended December 31, 2019.

Investments in Unconsolidated Affiliates

Investments in unconsolidated affiliates recorded using the equity method of accounting as of December 31, 2021 and 2020 consisted of the following (in millions):


	Ownership at December 31, 2021	2021		2020
Dun & Bradstreet	15.8%	$	595.0	$	653.2
Alight/FTAC Sponsor (1)	10.0%	505.0		—
Paysafe	8.3%	431.1		—
Optimal Blue	20.0%	267.7		279.8
AmeriLife	19.8%	112.7		121.1
Sightline	32.6%	269.5		—
Other	various	80.3		398.9
Total		$	2,261.3	$	1,453.0

_____________________________________

(1) Represents both the Company's direct interest in Alight and indirect interest in Alight held through our interest in the FTAC Sponsor.

Equity in earnings (losses) of unconsolidated affiliates for the periods indicated consisted of the following (in millions):


	Year ended December 31,
	2021		2020		2019
Dun & Bradstreet	$	(13.5)	$	(46.8)	$	(132.8)
Paysafe/FTAC II Sponsor	53.3		—		—
Alight/FTAC Sponsor	38.2		—		—
Ceridian (1)	—		1.5		16.4
Optimal Blue	(13.8)		(9.4)		—
Senator JV	(1.2)		—		—
AmeriLife	(8.7)		(4.0)		—
Sightline	(2.4)		—		—
Other	20.7		117.8		1.3
Total	$	72.6	$	59.1	$	(115.1)

_____________________________________

(1) The amount for the year ended December 31, 2020 represents the Company's equity in earnings of Ceridian in the three months ended March 31, 2020 prior to the change in accounting for the investment beginning March 31, 2020.

Dun & Bradstreet

Based on quoted market prices, the aggregate fair market value of our ownership of Dun & Bradstreet common stock was approximately $1.4 billion as of December 31, 2021.

As of December 31, 2021, we hold less than 20% of the outstanding common equity of Dun & Bradstreet but account for our ownership interest under the equity method of accounting because we exert significant influence: (a) through our 15.8% ownership, (2) because certain of our senior management and directors serve on D&B's board of directors, and (3) because we are party to an agreement with other of its equity sponsors pursuant to which we have agreed to collectively vote together on all matters related to the election of directors to the Dun & Bradstreet board of directors for a period of three years.

Effective January 1, 2021, D&B made a change in accounting principle related to removal of lag accounting for its international operations that they believe to be preferable. The change in accounting policy was applied retrospectively by D&B. The impact of this change in accounting principle did not have a material impact to our results of operations or financial condition and was applied to our current period accounting for our ownership interest in D&B.

Summarized financial information for Dun & Bradstreet and Star Parent, L.P. ("Star Parent"), the former parent of D&B through which we acquired our ownership interest prior to D&B's initial public offering, for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Consolidated Balance Sheets and Statements of Operations, respectively, is presented below. We acquired our initial interest in Star Parent on February 8, 2019. The results of operations for the year ended December 31, 2019 presented below represent Star Parent's results of operations subsequent to our acquisition.


	December 31, 2021		December 31, 2020
	(In millions)
Total current assets	$	718.0	$	874.4
Goodwill and other intangible assets, net	8,317.8		7,672.7
Other noncurrent assets	961.4		673.2
Total assets	$	9,997.2	$	9,220.3

Current liabilities	$	1,004.9	$	828.1
Long-term debt	3,716.7		3,255.8
Other non-current liabilities	1,530.3		1,552.5
Total liabilities	6,251.9		5,636.4
Noncontrolling interest	64.1		58.3
Total equity	3,745.3		3,583.9
Total liabilities and equity	$	9,997.2	$	9,220.3


	Year ended December 31,				For the period from February 8, 2019 to December 31, 2019
	2021		2020
	(In millions)
Total revenues	$	2,165.6	$	1,738.7	$	1,413.9
Loss before income taxes	(45.2)		(226.4)		(540.0)
Net loss	(65.9)		(111.6)		(425.8)
Dividends attributable to preferred equity and noncontrolling interest expense	(5.8)		(69.0)		(120.5)
Net loss attributable to Dun & Bradstreet and Star Parent	(71.7)		(180.6)		(546.3)

Optimal Blue

On September 15, 2020, we closed on the acquisition of our ownership interest in Optimal Blue. Summarized financial information for Optimal Blue for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Consolidated Balance Sheets and Statements of Operations, respectively, is presented below.


	December 31, 2021		December 31, 2020
	(In millions)
Total current assets	$	73.3	$	38.0
Goodwill and other intangible assets, net	1,711.0		1,831.3
Other assets	105.2		100.1
Total assets	$	1,889.5	$	1,969.4

Current liabilities	$	33.4	$	28.9
Long-term debt	494.0		493.0
Other non-current liabilities	80.9		105.0
Total liabilities	608.3		626.9
Redeemable member's interest	1,188.8		578.0
Additional paid-in capital	210.8		813.0
Retained deficit	(118.4)		(48.5)
Total members' equity	92.4		764.5
Total liabilities, redeemable member's interest and equity	$	1,889.5	$	1,969.4


	Year ended December 31, 2021		For the period from September 15, 2020 to December 31, 2020
	(In millions)
Total revenues	$	180.6	$	45.4
Operating loss	(50.1)		(38.1)
Net loss	(69.9)		(45.9)

Paysafe

Based on quoted market prices, the aggregate value of our ownership of Paysafe common stock was $233.7 million as of December 31, 2021.

Due to significant impairments recorded by Paysafe to its intangible assets in the three months ended September 30, 2021 and the quantum of the decrease in the fair market value of our ownership interest subsequent to our acquisition on March 30, 2021, management determined the decrease in value of our ownership interest in Paysafe was other-than-temporary as of September 30, 2021. Accordingly, we recorded an impairment of $391.8 million in the three months ended September 30, 2021 which is included in Recognized (losses) gains, net, on our Consolidated Statement of Operations for the year ended December 31, 2021.

As of December 31, 2021, we hold less than 20% of the outstanding common equity of Paysafe but we account for our ownership interest under the equity method of accounting because we exert significant influence: (a) through our 8.3% direct ownership, (b) because certain of our senior management and directors serve on Paysafe's board of directors, including the chairman of our Board, William P. Foley II, who is also the chairman of Paysafe's board of directors, and (c) because we are party to an agreement with other of its equity investors pursuant to which we have the ability to appoint or be consulted on the election of the majority of the total directors of Paysafe.

As of the date of our initial acquisition of ownership interest in Paysafe, there was a $567.8 million difference between the amount of our recorded direct equity ownership interest in Paysafe and the amount of the Company's ratable portion of the underlying equity in net assets of Paysafe. In the third quarter of 2021, the sponsor of FTAC II transferred its interest in Paysafe to its owners. As a result of the increase in our direct ownership interest in Paysafe, our basis difference was increased to $618.4 million. As a result of the impairment of our investment in the three months ended September 30, 2021, the basis difference was reduced to $224.3 million. We have evaluated the accounting treatment of such basis difference and allocated the entire remaining basis difference to equity method goodwill, which represents the excess of our basis difference over our equity in Paysafe’s net assets that are not attributable to their identifiable net assets.

We report our equity in earnings or loss of Paysafe on a three-month lag and we acquired our ownership interest on March 30, 2021. Accordingly, our net earnings for the year ended December 31, 2021 includes our equity in Paysafe’s losses for the period from March 30, 2021 through September 30, 2021. Summarized financial information for Paysafe for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Consolidated Balance Sheets and Statements of Operations, respectively, is presented below.


	September 30, 2021
	(In millions)
Total current assets	$	1,825.9
Goodwill and other intangible assets, net	4,699.7
Other assets	67.5
Total assets	$	6,593.1

Current liabilities	$	1,623.6
Long-term debt	2,190.9
Other liabilities	172.6
Total liabilities	3,987.1
Noncontrolling interest	137.8
Total equity	2,606.0
Total liabilities and equity	$	6,593.1


	For the period from March 31, 2021 to September 30, 2021
	(In millions)
Total revenues	$	737.9
Operating loss	(261.6)
Net loss	(140.3)
Net earnings attributable to noncontrolling interest	0.3
Net loss attributable to Paysafe	(140.6)

Alight

Based on quoted market prices, the aggregate value of our direct and indirect ownership of Alight common stock was $567.3 million as of December 31, 2021.

As of December 31, 2021, we hold less than 20% of the outstanding common equity of Alight but we account for our ownership interest under the equity method of accounting because we exert significant influence: (a) through our 10.0% direct and indirect ownership, (b) because certain of our senior management and directors serve on Alight's board of directors, including the chairman of our Board, William P. Foley II, who is also the chairman of Alight's board of directors, and (c) because we are party to an agreement with other of its equity investors pursuant to which we have the ability to appoint or be consulted on the election of the majority of the total directors of Alight.

As of July 2, 2021, there was a $102.1 million difference between the amount of our recorded ownership interest in Alight and the amount of the Company's ratable portion of the underlying equity in net assets of Alight. We have evaluated the accounting treatment of such basis difference and allocated the entire basis difference to equity method goodwill, which represents the excess of our basis difference over our equity in Alight’s net assets that are not attributable to their identifiable net assets.

We report our equity in earnings or loss of Alight on a three-month lag and we acquired our ownership interest on July 2, 2021. Accordingly, our net earnings for the year ended December 31, 2021 includes our equity in Alight’s earnings for the period from July 2, 2021 through September 30, 2021. Summarized financial information for Alight for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Consolidated Balance Sheets and Statements of Operations, respectively, is presented below.


	September 30, 2021
	(In millions)
Total current assets	$	2,914.0
Goodwill and other intangible assets, net	7,360.0
Other assets	683.0
Total assets	$	10,957.0

Current liabilities	$	2,148.0
Long-term debt	2,839.0
Other liabilities	1,292.0
Total liabilities	6,279.0
Noncontrolling interests	825.0
Total equity	4,678.0
Total liabilities and equity	$	10,957.0


	For the period from July 2, 2021 through September 30, 2021
	(In millions)
Total revenues	$	690.0
Operating income	25.0
Net loss	(120.0)
Net loss attributable to noncontrolling interests	(13.0)
Net loss attributable to Alight	(107.0)

Sightline

On March 31, 2021, we closed on our initial $32.0 million acquisition interest in Sightline. On August 16, 2021, we acquired an additional $240.0 million of ownership interest in Sightline.

As of August 16, 2021, there was a $212.7 million difference between the amount of our recorded ownership interest in Sightline and the amount of the Company's ratable portion of the underlying equity in net assets of Sightline. We have evaluated the accounting treatment of such basis difference and allocated $132.1 million to customer relationships, $73.5 million to developed technology, $7.1 million to tradenames and the remaining basis difference to equity method goodwill, which represents the excess of our basis difference over our equity in Sightline’s net assets that are not attributable to their identifiable net assets. Customer relationships are amortized over ten years and developed technology and tradenames are amortized over five years. Amortization expense of $1.3 million is included in our equity in losses of Sightline for the period from April 1, 2021 through September 30, 2021.

We report our equity in earnings or loss of Sightline on a three-month lag and we acquired our initial ownership interest on March 31, 2021. Accordingly, our net earnings for the year ended December 31, 2021 includes our equity in Sightline’s net loss for the period from April 1, 2021 through September 30, 2021. Summarized financial information for Sightline for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Consolidated Balance Sheets and Statements of Operations, respectively, is presented below.


	September 30, 2021
	(In millions)
Total current assets	$	49.3
Goodwill and other intangible assets, net	136.9
Other assets	0.6
Total assets	$	186.8

Current liabilities	$	7.8

Other liabilities	0.2
Total liabilities	8.0
Total equity	178.8
Total liabilities and equity	$	186.8


	For the period from April 1, 2021 through September 30, 2021
	(In millions)
Total revenues	$	22.9
Net loss	(11.6)

AmeriLife

On March 18, 2020, we closed on the acquisition of our ownership in AmeriLife. Summarized financial information for AmeriLife Joint for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Consolidated Balance Sheets and Statements of Operations, respectively, is presented below. We account for our ownership of AmeriLife under the equity method of accounting and report our equity in earnings or loss of AmeriLife on a three-month lag. Accordingly, our net earnings for the years ended December 31, 2021 and 2020 includes our equity in AmeriLife’s losses for the period from October 1, 2020 through September 30, 2021 and March 18, 2020 through September 30, 2020, respectively.


	September 30, 2021		September 30, 2020
	(In millions)
Total current assets	$	108.3	$	108.5
Goodwill and other intangible assets, net	1,646.1		1,370.4
Other assets	24.4		16.4
Total assets	$	1,778.8	$	1,495.3

Current liabilities	$	78.2	$	53.1
Long-term debt	856.5		645.2
Other non-current liabilities	24.7		14.7
Total liabilities	959.4		713.0
Member's equity	570.0		613.4
Noncontrolling interest - nonredeemable	249.4		168.9
Total member's equity	819.4		782.3
Total liabilities and member's equity	$	1,778.8	$	1,495.3


	For the year ended September 30, 2021		For the period from March 18, 2020 through September 30, 2020
	(In millions)
Total revenues	$	548.1	$	171.3
Operating income	35.2		9.5
Net loss	(13.7)		(10.1)
Income attributable to noncontrolling interests	31.2		8.3
Net loss attributable to AmeriLife	(44.9)		(18.4)

Fixed Maturity Securities

As discussed in Note A, we received the full payment for the Colt corporate debt securities and as of December 31, 2021, we held no fixed maturity securities. The carrying amounts and fair values of our fixed maturity securities at December 31, 2020 are as follows:


	December 31, 2020
	Carrying Value		Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
	(In millions)
Fixed maturity securities available for sale:
Corporate debt securities	$	35.2	$	22.0	$	13.2	$	—	$	35.2

Total	$	35.2	$	22.0	$	13.2	$	—	$	35.2

The cost basis of fixed maturity securities available for sale includes an adjustment for amortized premium or discount and other-than-temporary-impairment recognized in earnings since the date of purchase.

During the years ended December 31, 2021 and 2020, we recorded no other-than-temporary impairment charges relating to corporate debt securities. During the year ended December 31, 2019, we incurred $0.4 million of other-than-temporary impairment charges relating to corporate debt securities, which is included in Recognized gains and losses, net on the Consolidated Statements of Operations. The impairments recorded relate to a corporate debt holding that had experienced a prolonged period of declining earnings and that were uncertain of our ability to recover our initial investment. The entire loss represents credit loss recognized in earnings and no portion of the loss was included in other comprehensive earnings.

Equity Security Investments Without Readily Determinable Fair Values

We account for our investment in preferred equity of QOMPLX and certain other investments at cost less impairment, if any, plus or minus changes resulting from observable price changes in orderly market transactions. As of December 31, 2021 and 2020, we have $54.2 million and $30.0 million, respectively, recorded for our such investments, which is included in Other long term investments and noncurrent assets on our Consolidated Balance Sheets. We have not recorded any upward or downward adjustments to these investments due to impairments or price changes.

Property and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment


Property and equipment consists of the following:
	December 31,
	2021		2020
	(In millions)
Furniture, fixtures and equipment	$	101.8	$	118.3
Leasehold improvements	125.6		129.6
Land	25.2		36.7
Buildings	26.5		40.9
Other	4.0		5.1
	283.1		330.6
Accumulated depreciation and amortization	(182.5)		(184.8)
	$	100.6	$	145.8

Depreciation expense on property and equipment was $22.5 million, $26.7 million, and $35.8 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Goodwill

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill consists of the following:


		Restaurant Group		Corporate and Other		Total
	(in millions)



Balance, December 31, 2019		$	66.1	$	—	$	66.1

Impairment		(7.8)		—		(7.8)
Deconsolidation of Blue Ribbon		(4.9)		—		(4.9)
Balance, December 31, 2020		$	53.4	$	—	$	53.4


Balance, December 31, 2021		$	53.4	$	—	$	53.4

Variable Interest Entities

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

The Company, in the normal course of business, engages in certain activities that involve variable interest entities ("VIEs"), which are legal entities in which a group equity investors individually lack any of the characteristics of a controlling interest. The primary beneficiary of a VIE is generally the enterprise that has both the power to direct the activities most significant to the economic performance of the VIE and the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. The Company evaluates its interest in certain entities to determine if these entities meet the definition of a VIE and whether the Company is the primary beneficiary and should consolidate the entity based on the variable interests it held both at inception and when there is a change in circumstances that requires a reconsideration. If the Company is determined to be the primary beneficiary of a VIE, it must account for the VIE as a consolidated subsidiary. If the Company is determined not to be the primary beneficiary of a VIE but holds a variable interest in the entity, such variable interests are accounted for under accounting standards as deemed appropriate. As of and for the years ended December 31, 2021, 2020 and 2019, we are not the primary beneficiary of any VIEs.

Unconsolidated VIEs

The table below summarizes select information related to variable interests held by the Company as of December 31, 2021 and 2020, of which we are not the primary beneficiary:


		2021				2020
		Total Assets		Maximum Exposure		Total Assets		Maximum Exposure
	(in millions)
Investments in unconsolidated affiliates		$	4.5	$	4.5	$	299.7	$	299.7
Paysafe Subscription Agreement		—		—		169.6		169.6
Forward Purchase Agreements		0.5		0.5		136.1		136.1
S1 Backstop Agreement		12.0		12.0		—		—

Investments in Unconsolidated Affiliates

As of December 31, 2021, we held variable interests in certain unconsolidated affiliates, which are primarily comprised of our ownership interests in the sponsors of FTAC, Trebia, AAI and AAII and funds that hold minority ownership interests primarily in healthcare-related entities. Cannae does not have the power to direct the activities that most significantly impact the economic performance of these unconsolidated affiliates; therefore, we are not the primary beneficiary.

The principal risk to which these investments and funds are exposed is the credit risk of the underlying investees. We do not provide any implicit or explicit liquidity guarantees or principal value guarantees to these VIEs. The assets are included in Investments in unconsolidated affiliates on the Consolidated Balance Sheets and accounted for under the equity method of accounting.

See Note D for further discussion of our accounting for investments in unconsolidated affiliates.

Forward Purchase and Backstop Agreements

In addition to the AAII FPA and S1 Backstop Agreement, the Company has ownership interests in the sponsors of Trebia, AAI and AAII, which are considered VIEs for which we are not the primary beneficiary and are included in Investments in unconsolidated affiliates. The assets and liabilities represented by the AAII FPA and S1 Backstop Agreement are accounted for

as investments in equity securities pursuant to ASC 321 or as written options. See Notes C and D for further information on our accounting for equity securities and written options.

Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

Other Intangible AssetsOther intangible assets consist of the following:


	December 31,
	2021		2020
	(In millions)
Trademarks and tradenames	$	24.1	$	37.8
Software	13.8		13.5
Franchise rights	1.6		9.3
Customer relationships and contracts	5.2		5.2

	44.7		65.8
Accumulated amortization	(17.8)		(14.0)
	$	26.9	$	51.8

Amortization expense for amortizable intangible assets was $4.1 million, $4.0 million, and $4.9 million for the years ended December 31, 2021, 2020 and 2019, respectively. Estimated amortization expense for the next five years for assets owned at December 31, 2021, is $3.7 million in 2022, $3.1 million in 2023, $2.3 million in 2024, $2.3 million in 2025 and $2.3 million in 2026.

Acquisitions

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Acquisitions

On October 2, 2020, American Blue Ribbon Holdings, LLC ("Blue Ribbon") emerged from a reorganization under Chapter 11 of the United States Bankruptcy Code as a set of reorganized companies. We exchanged $15.5 million of the outstanding balance under a debtor-in-possession loan (the "DIP Loan") between us and Blue Ribbon for 100% of the assets and uncompromised liabilities of Legendary Baking and VIBSQ. The acquisition was accounted for as a business combination pursuant to ASC Topic 805.

The consideration transferred was determined as follows (in millions):


Notes receivable from Blue Ribbon	$	34.0
Fair value of investment in Blue Ribbon immediately prior to its emergence from bankruptcy	15.2
Total consideration transferred	$	49.2

All notes receivable by the Company from Blue Ribbon prior to its emergence from bankruptcy of $34.0 million, inclusive of the $15.5 million exchanged for the assets and uncompromised liabilities of Legendary Baking and VIBSQ, $12.0 million of the remaining balance outstanding under the DIP Loan and converted to an intercompany term loan with us, and $6.5 million provided to Blue Ribbon as exit financing and included in the closing term loan with us upon Blue Ribbon's emergence from bankruptcy, is part of the consideration transferred because subsequent to our acquisition of Legendary Baking and VIBSQ, the remaining balance outstanding eliminates in consolidation.

Our interest in Blue Ribbon during its bankruptcy proceedings was accounted for under the equity method of accounting. In conjunction with our acquisition of Legendary Baking and VIBSQ out of bankruptcy, we revalued our interest in Blue Ribbon to fair value, which resulted in a gain of $9.5 million and is included in Recognized gains and losses, net on the Consolidated Statement of Operations for the year ended December 31, 2020. The fair value was determined by performing a combination of discounted cash flow and market approaches. The assets acquired and liabilities assumed have been recorded based on our best estimates of their fair values as of the acquisition date.

The following table summarizes the preliminary fair value amounts recognized for the assets acquired and liabilities assumed as of the acquisition date (dollars in millions):


	Fair Value
Cash	$	8.6
Other current assets	24.9
Property and equipment	23.2
Lease assets	14.7
Other intangible assets	22.5
Other noncurrent assets	2.6
Total assets acquired	$	96.5

Current liabilities	$	27.6
Lease liabilities	14.5
Other noncurrent liabilities	2.3
Total liabilities assumed	$	44.4
Net assets acquired	$	52.1

The gross carrying value and weighted average estimated useful lives of Property and equipment and Other intangible assets acquired consist of the following (dollars in millions):


	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)
Property and equipment	$	23.2	12
Other intangible assets:
Tradenames	$	8.0	15
Franchise agreements	7.7		10
Customer relationships	6.4		4
Software	0.4		5
Total Other intangible assets	$	22.5

Revenue and net losses of $36.6 million and $4.0 million, respectively, which represents the combined revenue and loss for Legendary Baking and VIBSQ subsequent to our acquisition on October 2, 2020, are included in our Consolidated Statement of Operations for the year ended December 31, 2020.

Accounts Payable and Other Accrued Liabilities

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Accounts Payable and Other Accrued Liabilities

Accounts payable and other accrued liabilities, current consist of the following:


	December 31,
	2021		2020
	(In millions)
Accrued payroll and employee benefits	$	24.4	$	21.5
Trade accounts payable	22.7		25.7
Accrued casualty self insurance expenses	8.7		11.5
Tax liabilities, excluding income taxes payable	7.9		9.9
Other accrued liabilities	41.9		24.6
	$	105.6	$	93.2

Accounts payable and other accrued liabilities, long term consist of the following:


	December 31,
	2021		2020
	(In millions)
Restaurant Group financing obligations	$	29.5	$	29.4

Other accrued liabilities	15.5		23.7
	$	45.0	$	53.1

Notes Payable

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Notes Payable

Notes payable consists of the following:


	December 31,
	2021		2020
	(In millions)
2020 Margin Facility	$	—	$	—
Restaurant Revolver	—		—
FNF Revolver	—		—
99 Term Loan	—		16.8
99 Revolver	—		5.0



Brasada Interstate Loans	12.6		13.1

Other	3.8		28.6
Notes payable, total	$	16.4	$	63.5
Less: Notes payable, current	2.3		11.3
Notes payable, long term	$	14.1	$	52.2

2020 Margin Facility

On November 30, 2020, Cannae Funding C, LLC (“Borrower 1”), an indirect wholly-owned special purpose subsidiary of the “Company, and Cannae Funding D, LLC (“Borrower 2” and, together with Borrower 1, the “Borrowers”), an indirect wholly-owned special purpose subsidiary of the Company, entered into a Margin Loan Agreement (the “2020 Margin Facility”) with the lenders from time to time party thereto and Royal Bank of Canada. The Company concurrently entered into a guaranty (the “Guaranty Agreement”) for the benefit of each of the lenders to the 2020 Margin Facility pro rata to their loan commitments, pursuant to which the Company absolutely, unconditionally and irrevocably guaranteed all of the Borrowers’ obligations under the 2020 Margin Facility for a period of up to one year after the later of (i) the conditions precedent to the obligations of the lenders under the Loan Agreement being met (the date when such conditions have been met, the “Closing Date”) or (ii) as relevant, additional collateral or additional loan commitments being provided. Under the 2020 Margin Facility, the Borrowers may initially borrow up to $100.0 million in revolving loans and, subject to certain terms and conditions, may enter into an amendment to the 2020 Margin Facility to borrow up to $500.0 million in revolving loans (including the initial revolving loans) from the same initial lender and/or additional lenders on substantially identical terms and conditions as the initial revolving loans. The 2020 Margin Facility matures on the 36-month anniversary of the Closing Date. All outstanding amounts under the 2020 Margin Facility bear interest quarterly at a rate per annum equal to a three-month LIBOR rate plus an

applicable margin. Interest will be payable in kind unless the Borrowers elect to pay interest in cash or a cumulative cap is exceeded. The Borrowers’ obligations under the 2020 Margin Facility were initially secured by a first priority lien on (i) 6 million shares of common stock, par value $0.01 per share (the “Ceridian Common Stock”), of Ceridian, which the Company contributed to Borrower 1, and (ii) 19 million shares of common stock, par value $0.0001 per share (the “DNB Common Stock”), of D&B, which the Company contributed to Borrower 2. The Borrowers were also permitted, at their discretion, to post up to an additional 4 million shares of Ceridian Common Stock and/or 11 million shares of DNB Common Stock as collateral for the revolving loans from time to time after the Closing Date, subject to certain notice, guaranty, average daily trading volume and other requirements. The 2020 Margin Facility requires the Borrowers to maintain a certain loan-to-value ratio (based on the value of Ceridian Common Stock and DNB Common Stock). In the event the Borrowers fail to maintain such loan-to-value ratio, the Borrowers must post additional cash collateral under the Loan Agreement and/or elect to repay a portion of the revolving loans thereunder, or sell the Ceridian Common Stock and/or DNB Common Stock and use the proceeds from such sale to prepay a portion of the revolving loans thereunder.

On August 16, 2021, the Borrowers entered into an amendment agreement to the 2020 Margin Facility, which increased the borrowing capacity of the 2020 Margin Facility by an additional $100.0 million and resulted in the transfer of 16,000,000 additional shares of DNB Common Stock to Borrower 2 as collateral. On December 10, 2021, the Borrowers entered into a second amendment agreement to the 2020 Margin Facility, which increased the borrowing capacity by an additional $100.0 million and released 1 million shares of Ceridian Common Stock as collateral. As of December 31, 2021, the 2020 Margin Facility is secured by a first priority lien on 5 million shares of Ceridian Common Stock and the DNB Common Stock.

As of December 31, 2021, there was no outstanding balance and $300.0 million of capacity under the 2020 Margin Facility with an option to increase the total capacity to $500.0 million upon amendment.

On January 20, 2022, the Borrowers entered into a third amendment agreement to the 2020 Margin Facility, which added 1 million shares of Ceridian Common Stock as collateral, limited the collateral value of DNB Common Stock to 1.5 times that of the Ceridian Common Stock for purposes of calculating loan-to-value ratios, and increased the threshold price of Ceridian Common Stock and DNB Common Stock.

Restaurant Credit Facilities

On December 21, 2018, 99 Restaurants LLC, a direct, wholly-owned subsidiary of 99 Restaurants entered into a credit agreement (the "99 Restaurants Credit Facility"), as amended from time to time, with Fifth Third Bank and other lenders thereto. The 99 Restaurants Credit Facility principally provided for: (i) a maximum revolving loan of $15.0 million (the “99 Revolver”) with a maturity date of December 21, 2023 and (ii) a maximum term loan of $37.0 million (the "99 Term Loan") with monthly installment repayments through November 30, 2023 and a maturity date of December 21, 2023 for the outstanding unpaid principal balance. The 99 Restaurants Credit Facility also allowed for 99 Restaurants LLC to request up to $5.0 million of letters of credit commitments and $2.5 million in swingline debt. On December 1, 2020, 99 Restaurants LLC entered into a waiver, consent and amendment to the 99 Restaurants Credit Facility pursuant to which the borrowing capacity under the 99 Revolver was permanently reduced by $7.5 million and certain financial covenants were waived, among other changes. The outstanding balance under the 99 Restaurants Credit Facility was paid off in its entirety on December 31, 2021 in conjunction with the execution of the 2021 Restaurants Credit Facility (defined below).

On December 31, 2021, 99 Restaurants, LLC and 99 West, LLC, both wholly-owned subsidiaries of 99 Restaurants, O'Charley's LLC, a wholly-owned subsidiary of O'Charley's and Restaurant Growth Services, LLC, a 65.4%-owned subsidiary of the Company (collectively, the "Restaurant Borrowers") entered into an amendment to the 99 Restaurants Credit Facility (the "2021 Restaurants Credit Facility"). The 2021 Restaurants Credit Facility principally provides for: (i) a revolving credit commitment of $25.0 million in the aggregate (the "Restaurant Revolver") and (ii) a subfacility for an aggregate of $15.0 million of letters of credit. The 2021 Restaurants Credit Facility matures on December 31, 2026. The 2021 Restaurants Credit Facility is secured by certain assets of the Restaurant Borrowers and their subsidiaries and contains customary covenants and events of default.

As of December 31, 2021, there are no outstanding borrowings and there is $25.0 million of aggregate borrowing capacity under the Restaurants Revolver.

Brasada Interstate Loans

On January 29, 2016, FNF NV Brasada, LLC, an Oregon limited liability company and majority-owned subsidiary of Cannae ("NV Brasada"), entered into a credit agreement with an aggregate borrowing capacity of $17.0 million (the "Interstate Credit Agreement") originally with Bank of the Cascades, as lender. The Interstate Credit Agreement provides for a $12.5 million acquisition loan (the "Acquisition Loan"). On June 13, 2018, the Interstate Credit Agreement was modified to add an additional line of credit of $3.6 million ("C Note") and to assign the loan from the Bank of the Cascades to First Interstate Bank.

The Interstate Loans are secured by certain single-family residential lots that can be sold for construction, owned by NV Brasada, and certain other operating assets owned by NV Brasada. The Company does not provide any guaranty or stock pledge under the Interstate Credit Agreement.

As of December 31, 2021, the Acquisition Loan had $10.0 million outstanding and incurred interest at rates from 2.34% to 4.5% and the C Note had $2.0 million outstanding and incurred interest at 2.35%.

FNF Revolver

On November 17, 2017, FNF issued to Cannae a revolver note in aggregate principal amount of up to $100.0 million (the "FNF Revolver"). Pursuant to the FNF Revolver, FNF may make one or more loans to us in increments of $1.0 million, with up to $100.0 million outstanding at any time. The FNF Revolver accrues interest at LIBOR plus 450 basis points and matures on the five-year anniversary of the date of the FNF Revolver. The maturity date is automatically extended for additional five-year terms unless notice of non-renewal is otherwise provided by either FNF or Cannae, in their sole discretion.

As of December 31, 2021, there was no outstanding balance and $100.0 million of available borrowing capacity under the FNF Revolver.


Gross principal maturities of notes payable at December 31, 2021 are as follows (in millions):
2022	$	2.2
2023	0.8
2024	1.1
2025	0.8
2026	10.6
Thereafter	1.6
	$	17.1

At December 31, 2021, the carrying value of our outstanding notes payable approximate fair value. The revolving credit facilities are considered Level 2 financial liabilities.

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Income tax expense (benefit) on continuing operations consists of the following:


	Year Ended December 31,
	2021		2020		2019
	(In millions)
Current	$	101.5	$	116.1	$	64.7
Deferred	(175.5)		365.1		(40.5)
	$	(74.0)	$	481.2	$	24.2

A reconciliation of the federal statutory rate to our effective tax rate is as follows:


	Year Ended December 31,
	2021		2020		2019
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	(0.3)		(0.1)		(0.2)
Tax credits	1.0		(0.1)		(2.6)
Valuation allowance	0.1		0.1		0.5
Non-deductible expenses and other, net	—		—		0.1
Non-deductible executive compensation	(1.3)		0.5		1.8

Noncontrolling interests	—		0.3		2.6
Basis difference in investments	0.7		—		(2.8)

Other	(0.6)		(0.2)		(1.0)
Effective tax rate excluding equity investments	20.6	%	21.5	%	19.4	%
Equity investments	(3.5)		0.6		(9.2)
Effective tax rate	17.1	%	22.1	%	10.2	%

The change in the effective tax rate in all periods is primarily attributable to the varying impact of earnings or losses from unconsolidated affiliates on our consolidated pretax earnings or losses.

The significant components of deferred tax assets and liabilities at December 31, 2021 and 2020 consist of the following:


	December 31,
	2021		2020
	(In millions)
Deferred tax assets:


Net operating loss carryforwards	$	3.3	$	4.1






Other	0.5		1.4
Total gross deferred tax asset	3.8		5.5
Less: valuation allowance	(3.0)		(3.3)
Total deferred tax asset	$	0.8	$	2.2
Deferred tax liabilities:
Partnerships	$	(144.6)	$	(327.5)



Total deferred tax liability	$	(144.6)	$	(327.5)
Net deferred tax liability	$	(143.8)	$	(325.3)

The Company’s deferred taxes are primarily reflected as the book to tax difference in the Company's ownership of Cannae LLC. The Company, through its direct and indirect interests, holds a 100% ownership percentage of Cannae LLC.

The decrease in our net deferred tax liability as of December 31, 2021 from 2020 is primarily related to the impairment of our ownership interest in Paysafe, distributions from the Senator JV and sales and mark to market losses on the Company's investment in Ceridian.

The Company’s gross state NOL carryforwards were $67.0 million and $68.5 million at December 31, 2021 and 2020, respectively. The NOLs expire in various tax years through 2042.

ASC 740 requires that companies assess whether a valuation allowance should be established against their deferred tax assets based on the consideration of all of the available evidence using a “more likely than not” standard. A valuation allowance is established for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets may not be realized. Management evaluated the Company’s deferred tax assets for recoverability using a consistent approach that considers the relative impact of negative and positive evidence, in particular, the Company’s historical profitability and any projections of future taxable income or potential future tax planning strategies. As of December 31, 2021 and 2020, the Company recorded a valuation allowance of $3.0 million and $3.3 million, respectively, related to state NOLs, as it is more likely than not that the tax benefit of certain state NOLs will not be realized before the NOLs expire.

Unrecognized tax benefits are recorded for differences between tax positions the Company takes, or expects to take, on its income tax return compared to the benefit recognized for financial statement purposes. The Company does not have any unrecognized tax benefits as of December 31, 2021, 2020 or 2019.

The Company's federal and state income tax returns for the tax years ended December 31, 2021, 2020, 2019 and 2018 remain subject to examination.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Legal Contingencies

In the ordinary course of business, we are involved in various pending and threatened litigation and regulatory matters related to our operations, some of which include claims for punitive or exemplary damages. Our ordinary course litigation includes purported class action lawsuits, which make allegations related to various aspects of our business. From time to time, we also receive requests for information from various state and federal regulatory authorities, some of which take the form of civil investigative demands or subpoenas. Some of these regulatory inquiries may result in the assessment of fines for violations of regulations or settlements with such authorities requiring a variety of remedies. We believe that no actions, other than those discussed below, if any, depart from customary litigation or regulatory inquiries incidental to our business.

Our Restaurant Group companies are a defendant from time to time in various legal proceedings arising in the ordinary course of business, including claims relating to injury or wrongful death under “dram shop” laws that allow a person to sue us based on any injury caused by an intoxicated person who was wrongfully served alcoholic beverages at one of the restaurants; individual and purported class or collective action claims alleging violation of federal and state employment, franchise and other laws; and claims from guests or employees alleging illness, injury or other food quality, health or operational concerns. Our Restaurant Group companies are also subject to compliance with extensive government laws and regulations related to employment practices and policies and the manufacture, preparation, and sale of food and alcohol. We may also become subject to lawsuits and other proceedings, as well as card network fines and penalties, arising out of the actual or alleged theft of our customers' credit or debit card information.

We review lawsuits and other legal and regulatory matters (collectively “legal proceedings”) on an ongoing basis when making accrual and disclosure decisions. When assessing reasonably possible and probable outcomes, management bases its decision on its assessment of the ultimate outcome assuming all appeals have been exhausted. For legal proceedings in which it has been determined that a loss is both probable and reasonably estimable, a liability based on known facts that represents our best estimate is recorded. As of December 31, 2021 and 2020, our accrual for settlements of legal proceedings was not considered material. Actual losses may materially differ from the amounts recorded and the ultimate outcome of our pending legal proceedings is generally not yet determinable. While some of these matters could be material to our operating results or cash flows for any particular period in the event of an unfavorable outcome, at present, we do not believe that the ultimate resolution of currently pending legal proceedings, either individually or in the aggregate, will have a material adverse effect on our financial condition, results of operations or cash flows.

On September 23, 2020, a stockholder derivative lawsuit styled Oklahoma Firefighters Pension & Retirement System, derivatively on behalf of Cannae Holdings, Inc. v. William P. Foley, II, et al., was filed in the Court of Chancery of the State of Delaware against the Company, certain Board members and officers of the Company, and the Manager, alleging breach of fiduciary duties relating to the Company’s Management Services Agreement. The plaintiff further alleges the Board breached their fiduciary duties by approving bonuses in connection with the initial public offering of Ceridian and the approval of an Investment Success Incentive Plan in August 2018. Along with the Complaint, the plaintiff filed a motion for partial summary judgment as to the count seeking to void the Management Services Agreement. On January 27, 2021, the Company entered into an amendment to the Management Services Agreement and plaintiff withdrew its motion for partial summary judgment as moot. On February 1, 2021, the court ordered the plaintiff's summary judgment motion withdrawn and dismissed the related count of the plaintiff's complaint. On February 18, 2021, our Board formed a Special Litigation Committee (the "SLC") consisting of two of the Board’s Directors, and has authorized the SLC, among other things, to investigate and evaluate the claims and allegations asserted in the lawsuit. The Board has also given the SLC the sole authority and power to consider and determine whether or not prosecution of the claims asserted in the lawsuit is in the best interest of the Company and its shareholders, and what action the Company should take with respect to the lawsuit. On March 9, 2021, the Court entered a stipulated Order staying the action for six months to allow the SLC to investigate, review, and evaluate the facts, circumstances, and claims asserted in or relating to the action and to determine the Company’s response thereto. The stay has subsequently been extended through April 10, 2022. The defendants will contest the remaining claims in the action vigorously.

Unconditional Purchase Obligations

We have certain unconditional purchase obligations, primarily in our Restaurant Group segment. These purchase obligations are with various vendors and primarily related to food and beverage obligations with fixed commitments in regards to the time period of the contract and the quantities purchased with annual price adjustments that can fluctuate. We used both historical and projected volume and pricing as of December 31, 2021 to determine the amount of the obligations. Purchase obligations as of December 31, 2021 are as follows (in millions):


2022	$	94.3
2023	8.6
2024	6.4
2025	6.3
2026	6.4
Thereafter	0.8
Total purchase commitments	$	122.8

Discontinued Operations

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

T-System

On December 31, 2019, we completed the contribution of T-System Holdings, Inc. ("T-System") to CorroHealth. As a result of such contribution, the results of operations of T-System have been reclassified to discontinued operations in our Consolidated Statements of Operations for the year ended December 31, 2019. We retained a 22.7% equity interest in CorroHealth, the company to which we contributed our equity in T-System. We recognized a pre-tax loss of $6.4 million on the sale and $1.4 million in income tax benefit which are included in Net loss from discontinued operations on the Consolidated Statement of Operations for the year ended December 31, 2019.

A reconciliation of the operations of T-System included in the Consolidated Statement of Operations is shown below:


	Year Ended December 31,

	2019
	(in millions)
Revenues:
Other operating revenue	$	50.4
Total operating revenues	50.4
Operating expenses:
Personnel costs	33.1
Depreciation and amortization	13.7
Other operating expenses	19.1
Goodwill impairment	35.1
Total operating expenses	101.0
Operating loss	(50.6)
Other expense:

Recognized loss	(6.9)
Total other expense	(6.9)
Loss before income taxes	(57.5)
Income tax benefit	(5.7)
Net loss from discontinued operations	$	(51.8)

Cash flow from discontinued operations data:
Net cash provided by operations	$	2.7
Net cash used in investing activities	$	(0.5)

Employee Benefit Plans

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Employee Benefit Plans

Omnibus Plan

In 2017, we established the 2017 Omnibus Incentive Plan (the “Omnibus Plan”) authorizing the issuance of up to 3.9 million shares of common stock, subject to the terms of the Omnibus Plan. The 2017 Omnibus Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units and performance shares, performance units, other cash and stock-based awards and dividend equivalents. As of December 31, 2021, there were 149,628 shares of Cannae restricted stock outstanding (the "CNNE Awards") under the Omnibus Plan. Awards granted are approved by the Compensation Committee of the Board of Directors of the Company.

Restricted stock transactions under the Omnibus Plan in 2020, 2019 and 2018 are as follows:



	Shares	Weighted Average Grant Date Fair Value
Balance, December 31, 2017	287,059	$	18.45
Granted	384,281	17.98


Vested	(95,685)	18.45
Balance, December 31, 2018	575,655	$	18.13
Granted	18,642	34.45

Vested	(223,777)	18.18
Balance, December 31, 2019	370,520	$	18.93
Granted	13,993	40.53
Vested	(234,885)	18.60
Balance, December 31, 2020	149,628	$	21.46

Compensation cost relating to share-based payments is recognized in the Consolidated Statements of Operations based on the grant-date fair value of each award. Using the fair value method of accounting, compensation cost is measured based on the fair value of the award at the grant date and recognized over the service period of 3 years. Fair value of restricted stock awards and units is based on the grant date value of the underlying stock derived from quoted market prices. Net earnings attributable to Cannae reflects stock-based compensation expense for the CNNE Awards of $4.2 million, $4.1 million and $2.0 million for the years ended December 31, 2021, 2020 and 2018, respectively, which are included in personnel costs on the Consolidated Statements of Operations. The total fair value of restricted stock awards granted in the years ended December 31, 2021, 2019 and 2018 was $0.6 million, $0.6 million and $6.9 million, respectively.

On May 16, 2018, we issued 991,906 shares of our common stock (unrestricted) under the Omnibus Plan for the stock portion of bonuses paid in conjunction with Ceridian's initial public offering.

Concentration of Risk	12 Months Ended
Concentration of Risk	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentration of Risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents. We place cash equivalents with high credit quality financial institutions and, by policy, limit the amount of credit exposure with any one financial institution. Our Restaurant Group companies obtain a majority of their restaurant food products and supplies from two distributors. Although we believe alternative vendors could be found in a timely manner, any disruption of these services could potentially have an adverse impact on operating results.

Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

On March 30, 2021, we closed on our acquisition of an ownership interest in Paysafe. We account for our ownership interest in Paysafe under the equity method of accounting and report our equity in earnings or loss of Paysafe on a three-month lag. Our chief operating decision maker reviews the full financial results of Paysafe for purposes of assessing performance and allocating resources. Accordingly, we consider Paysafe a reportable segment and have included the full results of Paysafe subsequent to the FTAC II Paysafe Merger, on a three-month lag, in the tables below.

We acquired our ownership interest in AmeriLife in March 18, 2020. We account for our investment in AmeriLife under the equity method of accounting and report our equity in earnings or loss of AmeriLife on a three-month lag. Our chief operating decision maker reviews the full financial results of AmeriLife for purposes of assessing performance and allocating resources. Beginning in the three months ended March 31, 2021, AmeriLife exceeded certain of the quantitative thresholds prescribed by ASC 280 Segment Reporting and we began considering AmeriLife a reportable segment and have included the full results of AmeriLife subsequent to our investment, on a three-month lag, in the tables below.

On July 2, 2021, we closed on our acquisition of an ownership interest in Alight. We account for our ownership interest in Alight under the equity method of accounting and report our equity in earnings or loss of Alight on a three-month lag. Our chief operating decision maker reviews the full financial results of Alight for purposes of assessing performance and allocating resources of the Company. Accordingly, we consider Alight a reportable segment and have included the full results of Alight subsequent to the FTAC Alight Business Combination, on a three-month lag, in the tables below.

As of and for the year ended December 31, 2021:


	Restaurant Group		Dun & Bradstreet		Optimal Blue		Amerilife		Paysafe		Alight		Corporate and Other		Affiliate Elimination		Total
	(in millions)
Restaurant revenues	$	704.7	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	704.7
Other revenues	—		2,165.6		180.6		548.1		737.9		690.0		37.5		(4,322.2)		37.5
Revenues from external customers	704.7		2,165.6		180.6		548.1		737.9		690.0		37.5		(4,322.2)		742.2
Interest and investment income, including recognized (losses) gains, net	2.1		0.7		—		—		143.1		—		(291.8)		(143.8)		(289.7)
Total revenues and other income	706.8		2,166.3		180.6		548.1		881.0		690.0		(254.3)		(4,466.0)		452.5
Depreciation and amortization	24.0		615.9		135.2		65.7		131.9		10.0		2.6		(958.7)		26.6
Interest expense	(8.8)		(206.4)		(31.5)		(48.9)		(82.0)		(28.0)		(1.0)		396.8		(9.8)
(Loss) earnings from continuing operations, before income taxes and equity in earnings (loss) of unconsolidated affiliates	(18.3)		(45.2)		(81.6)		(13.7)		(200.5)		(120.0)		(414.7)		461.0		(433.0)
Income tax expense (benefit)	1.0		23.4		(11.7)		—		(60.2)		—		(75.0)		48.5		(74.0)
(Loss) earnings from continuing operations, before equity in earnings (loss) of unconsolidated affiliates	(19.3)		(68.6)		(69.9)		(13.7)		(140.3)		(120.0)		(339.7)		412.5		(359.0)
Equity in earnings of unconsolidated affiliates	—		2.7		—		—		—		—		17.1		52.8		72.6
Loss from continuing operations	$	(19.3)	$	(65.9)	$	(69.9)	$	(13.7)	$	(140.3)	$	(120.0)	$	(322.6)	$	465.3	$	(286.4)
Assets	$	395.5	$	9,997.2	$	1,889.5	$	1,778.8	$	6,593.1	$	10,957.0	$	3,494.1	$	(31,215.6)	$	3,889.6
Goodwill	53.4		3,493.3		1,228.7		947.4		3,536.6		3,356.0		—		(12,562.0)		53.4

As of and for the year ended December 31, 2020:


	Restaurant Group		Dun & Bradstreet		Optimal Blue		Amerilife		Corporate and Other		Affiliate Elimination		Total
	(in millions)
Restaurant revenues	$	559.7	$	—	$	—	$	—	$	—	$	—	$	559.7
Other revenues	—		1,738.7		45.4		171.3		26.0		(1,955.4)		26.0
Revenues from external customers	559.7		1,738.7		45.4		171.3		26.0		(1,955.4)		585.7
Interest and investment income, including recognized gains (losses), net	7.5		0.7		—		—		2,371.9		(0.7)		2,379.4
Total revenues and other income	567.2		1,739.4		45.4		171.3		2,397.9		(1,956.1)		2,965.1
Depreciation and amortization	27.7		537.8		39.3		15.4		3.0		(592.5)		30.7
Interest expense	(8.6)		(271.1)		(9.3)		(19.7)		(0.4)		300.1		(9.0)
(Loss) earnings from continuing operations, before income taxes and equity in earnings (loss) of unconsolidated affiliates	(85.5)		(226.4)		(47.4)		(10.1)		2,267.4		283.9		2,181.9
Income tax expense (benefit)	(1.0)		(112.4)		(1.5)		—		482.2		113.9		481.2
(Loss) earnings from continuing operations, before equity in earnings of unconsolidated affiliates	(84.5)		(114.0)		(45.9)		(10.1)		1,785.2		170.0		1,700.7
Equity in (losses) earnings of unconsolidated affiliates	(9.2)		2.4		—		—		128.3		(62.4)		59.1
(Loss) earnings from continuing operations	$	(93.7)	$	(111.6)	$	(45.9)	$	(10.1)	$	1,913.5	$	107.6	$	1,759.8
Assets	$	520.9	$	9,220.3	$	1,969.4	$	1,495.3	$	4,092.5	$	(12,685.0)	$	4,613.4
Goodwill	53.4		2,857.9		1,236.8		806.2		—		(4,900.9)		53.4

As of and for the year ended December 31, 2019:


	Restaurant Group		Dun & Bradstreet		Corporate and Other		Affiliate Elimination		Total
	(in millions)
Restaurant revenues	$	1,043.3	$	—	$	—	$	—	$	1,043.3
Other revenues	—		1,413.9		26.7		(1,413.9)		26.7
Revenues from external customers	1,043.3		1,413.9		26.7		(1,413.9)		1,070.0
Interest and investment income, including recognized gains (losses), net	3.9		2.4		369.4		(2.4)		373.3
Total revenues and other income	1,047.2		1,416.3		396.1		(1,416.3)		1,443.3
Depreciation and amortization	38.5		482.4		2.2		(482.4)		40.7
Interest expense	(5.4)		(303.5)		(12.4)		303.5		(17.8)
(Loss) earnings from continuing operations, before income taxes and equity in losses of unconsolidated affiliates	(80.9)		(540.0)		318.8		540.0		237.9
Income tax expense (benefit)	0.3		(110.0)		23.9		110.0		24.2
(Loss) earnings from continuing operations, before equity in losses of unconsolidated affiliates	(81.2)		(430.0)		294.9		430.0		213.7
Equity in earnings (losses) of unconsolidated affiliates	—		4.2		1.3		(120.6)		(115.1)
(Loss) earnings from continuing operations	$	(81.2)	$	(425.8)	$	296.2	$	309.4	$	98.6
Assets	$	572.8	$	9,112.8	$	1,519.4	$	(9,112.8)	$	2,092.2
Goodwill	66.1		2,840.1		—		(2,840.1)		66.1

The activities in our segments include the following:

•Restaurant Group. This segment consists primarily of the operations of O'Charley's and 99 Restaurants in which we have 65.4% and 88.5% ownership interests, respectively. O'Charley's and 99 Restaurants and their affiliates are the owners and operators of the O'Charley's and Ninety Nine Restaurants restaurant concepts. This segment also includes the operations of Legendary Baking and VIBSQ prior to their respective sales in 2021, for the periods from January 1, 2020 through January 27, 2020 and from October 2, 2020 through December 31, 2020, and for the year ended December 31, 2019.

•Dun & Bradstreet. This segment consists of our 15.8% ownership interest in Dun & Bradstreet. Dun & Bradstreet is a leading global provider of business decisioning data and analytics. Clients embed D&B's trusted, end-to-end solutions into their daily workflows to enhance salesforce productivity, gain visibility into key markets, inform commercial credit decisions and confirm that suppliers are financially viable and compliant with laws and regulations. Dun & Bradstreet's solutions support its clients’ mission critical business operations by providing proprietary and curated data and analytics to help drive informed decisions and improved outcomes. Dun & Bradstreet's global commercial

database contains hundreds of millions of business records. Our chief operating decision maker reviews the full financial results of Dun & Bradstreet for purposes of assessing performance and allocating resources. Thus, we consider Dun & Bradstreet a reportable segment and have included the full results of Dun & Bradstreet subsequent to our initial acquisition of ownership interests in the tables above. We account for Dun & Bradstreet using the equity method of accounting, and therefore its results do not consolidate into ours. Accordingly, we have presented the elimination of Dun & Bradstreet's results in the Affiliate Elimination section of the segment presentation above. Our net earnings for the year ended December 31, 2019, includes our equity in Star Parent’s losses for the period from February 8, 2019, the date we made our initial acquisition of an ownership interest in Star Parent, to December 31, 2019. See Note D for further discussion of our ownership interest in Dun & Bradstreet and related accounting.

•Alight. This segment consists of our 10.0% ownership interest in Alight. Alight is a leading cloud-based provider of integrated digital human capital and business solutions. Alight has an unwavering belief that a company’s success starts with its people, and its solutions connect human insights with technology. Leveraging artificial intelligence and data analytics, Alight provide an integrated, personalized experience for employees using technology-driven solutions that unlock value for employers. Alight's mission-critical solutions enable employees to enrich their health, wealth and wellbeing which helps global organizations achieve a high-performance culture. Our chief operating decision maker reviews the full financial results of Alight for purposes of assessing performance and allocating resources. Thus, we consider Alight a reportable segment and have included the full results of Alight subsequent to our initial acquisition of an ownership interest in the tables above. We account for Alight using the equity method of accounting, and therefore, its results do not consolidate into ours. Accordingly, we have presented the elimination of Alight's results in the Affiliate Elimination section of the segment presentation above. We report our equity in earnings or loss of Alight on a three-month lag and we acquired our investment on July 2, 2021. Accordingly, our net earnings and the segment tables above, respectively, for the year ended December 31, 2021, include our equity in Alight’s earnings and complete results of Alight, respectively, for the period from July 2, 2021 through September 30, 2021. See Note D for further discussion of our ownership interest in Alight and related accounting.

•Paysafe. This segment consists of our 8.3% ownership interest in Paysafe. Paysafe provides payment processing solutions through several business lines. These business lines are focused on card not present and card present solutions for small to medium size business merchants, wallet based online payment solutions through Skrill and NETELLER brands and solutions that enable consumers to use cash to facilitate online purchases through its paysafecard prepaid vouchers. Our chief operating decision maker reviews the full financial results of Paysafe for purposes of assessing performance and allocating resources. Thus, we consider Paysafe a reportable segment and have included the full results of Paysafe subsequent to our initial acquisition of an ownership interest in the tables above. We account for Paysafe using the equity method of accounting, and therefore, its results do not consolidate into ours. Accordingly, we have presented the elimination of Paysafe's results in the Affiliate Elimination section of the segment presentation above. We report our equity in earnings or loss of Paysafe on a three-month lag and we acquired our ownership interest on March 30, 2021. Accordingly, our net earnings and the segment tables above, respectively, for the year ended December 31, 2021, include our equity in Paysafe’s earnings and complete results of Paysafe, respectively, for the period from March 30, 2021 through September 30, 2021. See Note D for further discussion of our ownership interest in Paysafe and related accounting.

•Optimal Blue. This segment consists of our 20.0% ownership interest in Optimal Blue. Optimal Blue is a leading provider of secondary market solutions and actionable data services. They operate a software-as-a-service, subscription-based mortgage marketplace that supports a network of originators and investors in the residential mortgage market. The marketplace provides a broad set of critical functions utilized by banks, credit unions and mortgage brokerage companies throughout the mortgage processing life cycle. Optimal Blue exceeds certain of the quantitative thresholds prescribed by ASC 280 Segment Reporting and our chief operating decision maker reviews the financial results of Optimal Blue for purposes of assessing performance and allocating resources. Thus, we consider Optimal Blue a reportable segment and have included the results of operations of Optimal Blue in the tables above. We account for Optimal Blue using the equity method of accounting, and therefore its results do not consolidate into ours. Accordingly, we have presented the elimination of Optimal Blue's results in the Affiliate Elimination section of the segment presentation above. Our net earnings for the year ended December 31, 2020, includes our equity in Optimal Blue’s losses for the period from September 15, 2020, the date we made our initial acquisition of an ownership interest in Optimal Blue, to December 31, 2020. See Note D for further discussion of our ownership interest in Optimal Blue and related accounting.

•AmeriLife. This segment consists of our 19.8% ownership interest in AmeriLife. AmeriLife is a leader in marketing and distributing life, health, and retirement solutions. AmeriLife has partnered with the nation’s leading insurance carriers to provide value and quality to customers served through a national distribution network of insurance agents

and advisors, marketing organizations, and insurance agency locations. AmeriLife exceeds certain of the quantitative thresholds prescribed by ASC 280 Segment Reporting and our chief operating decision maker reviews the financial results of AmeriLife for purposes of assessing performance and allocating resources. Thus, we consider AmeriLife a reportable segment and have included the results of operations of AmeriLife in the tables above. We account for our ownership interest in AmeriLife under the equity method of accounting, and therefore, its results do not consolidate into ours. Accordingly, we have presented the elimination of AmeriLife's results in the Affiliate Elimination section of the segment presentation above. We report our equity in earnings or loss of AmeriLife on a three-month lag and we acquired our interest in AmeriLife on March 18, 2020. Our net earnings and the segment tables above, respectively, for the year ended December 31, 2021 includes our equity in AmeriLife’s losses and the complete results of AmeriLife, respectively, for the year ended September 30, 2021 and our net earnings and the segment tables above for the year ended December 31, 2020, respectively, includes our equity in AmeriLife's losses and complete results of AmeriLife for the period from March 18, 2020 through September 30, 2020. See Note D for further discussion of our ownership interest in AmeriLife and related accounting.

•Corporate and Other. This aggregation of nonreportable segments consists of our share in the operations of certain controlled portfolio companies and other equity investments, activity of the corporate holding company and certain intercompany eliminations and taxes.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions FNF For the years ended December 31, 2020 and 2019, the Company was allocated certain corporate overhead and management services expenses from FNF based on the terms of the CSA and our proportionate share of the expense determined on actual usage and our best estimate of management's allocation of time. Total operating expenses allocated from FNF to us was $1.3 million in each of the years ended 2020 and 2019. In the year ended December 31, 2021, the Company paid $3.5 million to FNF for services under the CSA, employee costs and reimbursement for out of pocket expenses paid by FNF on our behalf. On January 17, 2020, we completed the purchase of our corporate office headquarters in Las Vegas, Nevada from an affiliate of FNF for $9.3 million. Trasimene During the year ended December 31, 2021, we incurred $33.6 million of management fee expenses payable to our Manager and incurred $44.5 million of carried interest expense related to sales of and distributions from Company investments. During the year ended December 31, 2020, we incurred $20.8 million of management fee expenses payable to our Manager, incurred $11.3 million of carried interest expense related to sales of and distributions from Company investments, and earned $9.1 million of income related to transaction fees earned by the Manager and allocable to us pursuant to the Management Services Agreement. Such management fees and carried interest expense are recorded in Other operating expenses and transaction fee income is recorded in Interest, investment and other income on our Consolidated Statements of Operations. Special Purpose Acquisition Company Investments and Commitments See Note A for discussion of Cannae's investments, and commitments to invest in, Trebia, AAI and AAII, which are sponsored by certain of our directors and affiliates of our Manager.

Recent Accounting Pronouncements	12 Months Ended
Recent Accounting Pronouncements	Dec. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting PronouncementsIn December 2019, the FASB issued Accounting Standards Update ("ASU") 2019-12 Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740), which simplifies various aspects of the income tax accounting guidance and will be applied using different approaches depending on what the specific amendment relates to and, for public entities, are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. We have adopted this ASU which did not have a material impact on our Consolidated Financial Statements and related disclosures. This ASU could result in a material change to our accounting for taxes in future interim periods if a change in tax laws or rates occurs in a future interim period as this ASU now requires accounting for such changes to occur in the period in which changes to tax laws or rates are enacted.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Supplementary Cash Flow Information

12 Months Ended

Dec. 31, 2021

Supplemental Cash Flow Elements [Abstract]

Supplementary Cash Flow Information

The following supplemental cash flow information is provided with respect to interest and tax payments, as well as certain non-cash investing and financing activities.


	Year Ended December 31,
	2021		2020		2019
	(In millions)
Cash paid during the year:
Interest	$	7.0	$	5.5	$	15.6
Income taxes	128.9		107.6		48.6
Operating leases	37.8		41.3		62.6
Non-cash investing and financing activities:
Preferred shares received as consideration for note receivable from QOMPLX	$	19.3	$	—	$	—
Exchange of directly held Alight warrants for Alight common stock	12.8		—		—
Investment in CorroHealth received as partial consideration for T-System	—		—		60.2
Non-cash distribution of CoreLogic stock to Senator JV	—		112.5		—
Non-cash contribution of CoreLogic stock from Senator JV	—		176.3		—
Lease assets recognized in exchange for lease liabilities	9.3		65.0		8.5
Assets acquired in non-cash acquisition of Legendary Baking and VIBSQ	—		96.5		—
Liabilities assumed in non-cash acquisition of Legendary Baking and VIBSQ	—		44.4		—
Financing obligations assumed by O'Charley's in exchange for property	—		—		14.6
Property obtained by O'Charley's in exchange for stores	—		—		10.5

Revenue Recognition

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Disaggregation of Revenue

Our revenue consists of the following:


		Year ended December 31,
		2021		2020		2019
Revenue Stream	Segment	Total Revenue
Restaurant revenue:		(in millions)
Restaurant sales	Restaurant Group	$	673.2	$	534.1	$	958.4
Bakery sales	Restaurant Group	28.8		23.4		78.9
Franchise and other	Restaurant Group	2.7		2.2		6.0
Total restaurant revenue		704.7		559.7		1,043.3
Other operating revenue:


Real estate and resort	Corporate and other	34.6		24.7		25.9
Other	Corporate and other	2.9		1.3		0.8
Total other operating revenue		37.5		26.0		26.7
Total operating revenue		742.2		585.7		1,070.0

Restaurant revenue consists of restaurant sales, bakery operations, and, to a lesser extent, franchise revenue and other revenue. Restaurant sales include food and beverage sales and gift card breakage, are net of applicable state and local sales taxes and discounts, and are recognized at a point in time as services are performed and goods are provided.

Revenue from bakery operations is recognized at a point in time in the period during which the products are shipped and control transfers to the customer.

Franchise revenue and other revenue consist of development fees and royalties on sales by franchised units. Initial franchise fees are recognized as income upon commencement of the franchise operation and completion of all material services and conditions by the Company. Royalties are calculated as a percentage of the franchisee sales and recognized in the period in which the sales are generated. Revenue resulting from the sale of gift cards is recognized in the period in which the gift card is redeemed and is recorded as deferred revenue until recognized.

Other operating revenue consists of income generated by our resort operations, which includes sales of real estate, lodging rentals, food and beverage sales, and other income from various resort services offered. Revenue is recognized upon closing of the sale of real estate or once goods and services have been provided and billed to the customer.

Contract Balances

The following table provides information about receivables and deferred revenue:


	December 31,		December 31,
	2021		2020
	(In millions)
Trade receivables, net	$	17.7	$	17.6


Deferred revenue (contract liabilities)	23.1		23.9

Trade receivables, net are included in Other current assets on our Consolidated Balance Sheets.

Deferred revenue is recorded primarily for restaurant gift card sales. The unrecognized portion of such revenue is recorded as Deferred revenue in the Consolidated Balance Sheets. Revenue of $20.6 million and $17.5 million was recognized in the years ended December 31, 2021 and 2020, respectively, which was included in Deferred revenue at the beginning of the period.

There was no impairment related to contract balances.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying Consolidated Financial Statements are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and include the historical accounts as well as wholly-owned and majority-owned subsidiaries of the Company. The Company is allocated certain corporate overhead and management services expenses from FNF based on the terms of the CSA and our proportionate share of the expense determined on actual usage and our best estimate of management's allocation of time. Both FNF and Cannae believe such allocations are reasonable; however, they may not be indicative of the actual results of operations or cash flows of the Company had the Company been operating as an independent, publicly traded company for the periods presented or the amounts that will be incurred by the Company in the future. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All adjustments made were of a normal, recurring nature.
Principles of Consolidation	All intercompany profits, transactions and balances have been eliminated. Our ownership interests in non-majority-owned partnerships and affiliates are accounted for under the equity method of accounting or as equity securities. Earnings attributable to noncontrolling interests are recorded on the Consolidated Statements of Operations relating to majority-owned subsidiaries with the appropriate noncontrolling interest that represents the portion of equity not related to our ownership interest recorded on the Consolidated Balance Sheets in each period.
Management Estimates	Management Estimates The preparation of these Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by management include the carrying amount and depreciation of property and equipment (Note E), the valuation of acquired intangible assets (Note H and Note I), fair value measurements (Note C), and accounting for income taxes (Note L). Actual results could differ from estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Highly liquid instruments, including money market instruments, purchased as part of cash management with original maturities of three months or less, and certain amounts in transit from credit and debit card processors, are considered cash equivalents. The carrying amounts reported in the Consolidated Balance Sheets for these instruments approximate their fair value.
Investments	Investments Equity securities include our investment in Ceridian and are carried at fair value. Investments in unconsolidated affiliates are recorded using the equity method of accounting. Fixed maturity securities, which may be sold prior to maturity, are carried at fair value and are classified as available for sale as of the balance sheet dates. Fair values for fixed maturity securities are principally a function of current market conditions and are valued based on quoted prices in markets that are not active or model inputs that are unobservable. Discount or premium is recorded for the difference between the purchase price and the principal amount. The discount or premium is amortized or accrued using the interest method and is recorded as an adjustment to interest, investment and other income. The interest method results in the recognition of a constant rate of return on the investment equal to the prevailing rate at the time of purchase or at the time of subsequent adjustments of book value. Recognized gains and losses on the sale of investments are determined on the basis of the cost of the specific investments sold and are credited or charged to income on a trade date basis. Unrealized gains or losses on fixed maturity securities, which are classified as available for sale, net of applicable deferred income tax expenses (benefits), are excluded from earnings and credited or charged directly to a separate component of equity. If any unrealized losses on available for sale fixed maturity securities are determined to be other-than-temporary, such unrealized losses are recognized as realized losses. Unrealized losses are considered other-than-temporary if factors exist that cause us to believe that the value will not increase to a level sufficient to recover our cost basis. Some factors considered in evaluating whether or not a decline in fair value is other-than-temporary include (i) our need and intent to sell the investment prior to a period of time sufficient to allow for a recovery in value; (ii) the duration and extent to which the fair value has been less than cost; and (iii) the financial condition and prospects of the issuer. Such reviews are inherently uncertain and the value of the investment may not fully recover or may decline in future periods resulting in a realized loss. See Notes C and D for further discussion of our accounting for equity securities and investments in unconsolidated affiliates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of financial instruments presented in the Consolidated Financial Statements are estimates of the fair value at a specific point in time using available market information and appropriate valuation methodologies. Estimates that use unobservable inputs are subjective in nature and involve uncertainties and significant judgment in the interpretation of current market data. We do not necessarily intend to dispose of or liquidate such instruments prior to maturity. See Note C for further details.
Distributions from Unconsolidated Affiliates	Distributions from Unconsolidated Affiliates We classify distributions received from unconsolidated affiliates in our Consolidated Statements of Cash Flows using the cumulative earnings approach. Under the cumulative earnings approach, distributions are considered returns on investment and classified as cash inflows from operating activities unless the Company’s cumulative distributions from an investee received in prior periods exceed the cumulative equity in earnings of such investee. When cumulative distributions from an investee exceed cumulative equity in earnings of the investee, such excess is considered a return of investment and is classified as a cash inflow from investing activities.
Other Current Assets	Other Current AssetsPrepaid expenses and other current assets consist of trade receivables, inventory, prepaid operating expenses, the current portion of notes receivable, deposits and other miscellaneous current assets.
Trade Receivables	Trade receivables are primarily for the Restaurant Group and consist primarily of business to business gift card sales, insurance-related reimbursement, rebates, tenant improvement allowances, and billings to franchisees for royalties, initial and renewal fees, equipment sales and rent. Trade receivables are recorded net of an allowance for doubtful accounts, which is our best estimate of the amount of probable credit losses related to existing receivables. The carrying values reported in the Consolidated Balance Sheets for trade receivables approximate their fair value.
Inventory	Inventory primarily consists of food, beverages, packaging and supplies in our Restaurant Group segment and is stated at the lower of cost or net realizable value. Cost is determined using the first in, first out method for restaurant inventory and standard cost that approximates actual cost on a first in, first out basis for the bakery operations.
Other long term investments and non-current assets	Other Long Term Investments and Non-Current Assets Other long-term investments consist mainly of investments in equity securities without a readily determinable fair value. See Note D for further discussion of our accounting for equity securities without a readily determinable fair value. Other non-current assets also includes notes receivable from third-parties and other miscellaneous non-current assets.
Goodwill	Goodwill Goodwill represents the excess of cost over fair value of identifiable net assets acquired and assumed in business combinations. Goodwill and other intangible assets with indefinite useful lives are reviewed for impairment annually or more frequently if circumstances indicate potential impairment, through a comparison of fair value to the carrying amount. We have the option to first assess goodwill for impairment based on a review of qualitative factors to determine if events and circumstances exist that will lead to a determination that the fair value of a reporting unit is greater than its carrying amount, prior to performing a full fair-value assessment. If, after assessing the totality of events or circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the quantitative impairment test is unnecessary. However, if the Company concludes otherwise, then it is required to perform the quantitative impairment test by calculating the fair value of the reporting unit and comparing the fair value with the carrying amount of the reporting unit. Goodwill impairment, if any, is measured as the amount by which a reporting unit’s carrying value exceeds its fair value. For the year ended December 31, 2021, we did not have any impairment of goodwill. For the year ended December 31, 2020, we recorded $7.8 million of impairment to goodwill in our Restaurant Group segment. The impairment charge is a result of deteriorating operating results and cash flow resulting from declining same store sales and increased costs at O'Charley's. The impairment recorded was calculated as the deficit between the carrying value of our O'Charley's reporting unit of our Restaurant Group compared to the fair value of the reporting unit determined by performing a combination of discounted cash flow and market approaches. For the year ended December 31, 2019 we recorded $35.1 million of impairment to goodwill in our former T-System segment and $10.4 million of impairment to goodwill in our Restaurant Group segment. The impairment in our former T-System segment is primarily a result of a decline in earnings multiples from comparable public companies and lower forecasted cash flows for its reporting units. The impairment charge in our Restaurant Group is a result of deteriorating operating results and cash flow resulting from declining same store sales and increased costs, primarily in our Village Inn and Bakers Square branded stores. The impairments recorded were calculated as the deficit between the carrying value of the reporting units of each segment compared to the fair value of the reporting unit determined by performing a combination of discounted cash flow and market approaches. Impairment to goodwill in our former T-System segment is included in Net loss from discontinued operations on the Consolidated Statement of Operations for the year ended December 31, 2019. See Note N.
Other Intangible Assets	Other Intangible Assets We have other intangible assets, not including goodwill, which consist primarily of customer relationships and contracts, trademarks and tradenames that are generally recorded in connection with acquisitions at their fair value, franchise rights, the fair value of purchased software and capitalized software development costs. Intangible assets with estimable lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. In general, customer relationships are amortized over their estimated useful lives using an accelerated method, which takes into consideration expected customer attrition rates. Contractual relationships are generally amortized over their respective contractual lives. Useful lives of computer software range from three to ten years. Capitalized software development costs and purchased software are recorded at cost and amortized using the straight-line method over their estimated useful life. Trademarks and tradenames were generally considered intangible assets with indefinite lives and reviewed for impairment at least annually. In conjunction with our annual testing for impairment of tradenames during the fourth quarter of 2020 and in light of the deteriorating operating environment for restaurants, we changed our estimate of the useful lives of our tradenames for all of our restaurant brands from indefinite to fifteen years. The impact of such change on the Company's consolidated income is not considered material.
Property and Equipment, net	Property and Equipment, net Property and equipment, net are recorded at cost, less accumulated depreciation. Depreciation is computed primarily using the straight-line method based on the estimated useful lives of the related assets: thirty to forty years for buildings and three to twenty-five years for furniture, fixtures and equipment. Leasehold improvements are amortized on a straight-line basis over the lesser of the term of the applicable lease or the estimated useful lives of such assets. In our Restaurant Group, all direct external costs associated with obtaining the land, building and equipment for each new restaurant, as well as construction period interest, are capitalized. Direct external costs associated with obtaining the dining room and kitchen equipment, signage and other assets and equipment are also capitalized. In addition, for each new restaurant and re-branded restaurant, a portion of the internal direct costs of its real estate and construction department are also capitalized.
Insurance Reserves	Insurance ReservesOur Restaurant Group companies are currently self-insured for a portion of its workers' compensation, general liability, and liquor liability losses (collectively, casualty losses) as well as certain other insurable risks. To mitigate the cost of the Restaurant Group's exposures for certain property and casualty losses, we make annual decisions to either retain the risks of loss up to a certain maximum per occurrence, aggregate loss limits negotiated with its insurance carriers, or fully insure those risks. Our Restaurant Group companies are also self-insured for healthcare claims for eligible participating employees subject to certain deductibles and limitations. We have accounted for such retained liabilities for casualty losses and healthcare claims, including reported and incurred but not reported claims, based on information provided by third-party actuaries.
Income Taxes	Income Taxes We recognize deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of our assets and liabilities and expected benefits of utilizing net operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The impact of changes in tax rates and laws on deferred taxes, if any, is applied to the years during which temporary differences are expected to be settled and reflected in the financial statements in the period enacted. We recognize the benefits of uncertain tax positions in the financial statements only after determining a more likely than not probability that the uncertain tax positions will withstand challenge, if any, from taxing authorities. When facts and circumstances change, we reassess these probabilities and record any changes in the financial statements as appropriate. Uncertain tax positions are accounted for by determining the minimum recognition threshold that a tax position is required to meet before being recognized in the financial statements. This determination requires the use of judgment in assessing the timing and amounts of deductible and taxable items. Tax positions that meet the more likely than not recognition threshold are recognized and measured as the largest amount of tax benefit that is more than 50% likely to be realized upon settlement with a taxing authority that has full knowledge of all relevant information. The Company recognizes interest and penalties accrued related to unrecognized tax benefits as components of income tax expense.
Advertising Costs	Advertising Costs The Company expenses advertising and marketing costs as incurred, except for certain advertising production costs that are initially capitalized and subsequently expensed the first time the advertising takes place. During the years ended December 31, 2021, 2020, and 2019, the Company incurred $16.0 million, $15.7 million, and $30.0 million of advertising and marketing costs, respectively, related to advertising in our Restaurant Group and in our real estate operations. These costs are included in Other operating expenses on the Consolidated Statements of Operations.
Comprehensive Earnings	Comprehensive Earnings We report comprehensive earnings in accordance with GAAP on the Consolidated Statements of Comprehensive Earnings. Total comprehensive earnings are defined as all changes in shareholders' equity during a period, other than those resulting from investments by and distributions to shareholders. While total comprehensive earnings is the activity in a period and is largely driven by net earnings in that period, accumulated other comprehensive earnings or loss represents the cumulative balance of other comprehensive earnings, net of tax, as of the balance sheet date. Amounts reclassified to net earnings relate to realized losses and are included in Recognized gains and losses, net on the Consolidated Statements of Operations. Our policy is to release income tax effects from accumulated other comprehensive income at such time as the earnings or loss of the related activity are recognized in earnings (e.g., upon sale of an investment).
Stock-Based Compensation Plans	Stock-Based Compensation PlansStock-based compensation expense includes restricted stock awards granted in Cannae common stock to directors and certain members of management. We account for stock-based compensation plans using the fair value method. Under the fair value method of accounting, compensation cost is measured based on the fair value of the award at the grant date, using quoted market prices of the underlying stock, and recognized over the service period.
Earnings Per Share	Earnings Per Share Basic earnings per share, as presented on the Consolidated Statement of Operations, is computed by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding during the period. In periods when earnings are positive, diluted earnings per share is calculated by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding plus the impact of assumed conversions of potentially dilutive securities. For periods when we recognize a net loss, diluted earnings per share is equal to basic earnings per share as the impact of assumed conversions of potentially dilutive securities is considered to be antidilutive. We have granted certain shares of restricted stock, which have been treated as common share equivalents for purposes of calculating diluted earnings per share for periods in which positive earnings have been reported. Instruments that provide the ability to purchase shares of our common stock that are antidilutive are excluded from the computation of diluted earnings per share.
Recent Accounting Pronouncements	Recent Accounting PronouncementsIn December 2019, the FASB issued Accounting Standards Update ("ASU") 2019-12 Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740), which simplifies various aspects of the income tax accounting guidance and will be applied using different approaches depending on what the specific amendment relates to and, for public entities, are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. We have adopted this ASU which did not have a material impact on our Consolidated Financial Statements and related disclosures. This ASU could result in a material change to our accounting for taxes in future interim periods if a change in tax laws or rates occurs in a future interim period as this ASU now requires accounting for such changes to occur in the period in which changes to tax laws or rates are enacted.
Revenue Recognition	Restaurant revenue consists of restaurant sales, bakery operations, and, to a lesser extent, franchise revenue and other revenue. Restaurant sales include food and beverage sales and gift card breakage, are net of applicable state and local sales taxes and discounts, and are recognized at a point in time as services are performed and goods are provided. Revenue from bakery operations is recognized at a point in time in the period during which the products are shipped and control transfers to the customer. Franchise revenue and other revenue consist of development fees and royalties on sales by franchised units. Initial franchise fees are recognized as income upon commencement of the franchise operation and completion of all material services and conditions by the Company. Royalties are calculated as a percentage of the franchisee sales and recognized in the period in which the sales are generated. Revenue resulting from the sale of gift cards is recognized in the period in which the gift card is redeemed and is recorded as deferred revenue until recognized. Other operating revenue consists of income generated by our resort operations, which includes sales of real estate, lodging rentals, food and beverage sales, and other income from various resort services offered. Revenue is recognized upon closing of the sale of real estate or once goods and services have been provided and billed to the customer. Deferred revenue is recorded primarily for restaurant gift card sales. The unrecognized portion of such revenue is recorded as Deferred revenue in the Consolidated Balance Sheets.

Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in the balance of other comprehensive earnings by component are as follows:


	Unrealized (loss) gain on investments and other financial instruments, net (excluding investments in unconsolidated affiliates)		Unrealized (loss) gain relating to investments in unconsolidated affiliates		Total Accumulated Other Comprehensive (Loss) Earnings
	(In millions)








Balance December 31, 2019	$	(0.5)	$	(45.4)	$	(45.9)
Other comprehensive earnings (loss)	10.7		(15.9)		(5.2)
Reclassification adjustments	—		46.2		46.2
Balance December 31, 2020	$	10.2	$	(15.1)	$	(4.9)
Other comprehensive earnings	0.6		5.7		6.3
Reclassification adjustments	(10.8)		2.2		(8.6)
Balance December 31, 2021	$	—	$	(7.2)	$	(7.2)

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Future Payments Under Operating Lease Arrangements Under ASC Topic 842

Future payments under operating lease arrangements accounted for under ASC Topic 842 as of December 31, 2021 are as follows (in millions):


2022	$	36.1
2023	32.9
2024	25.1
2025	22.1
2026	20.2
Thereafter	132.6
Total lease payments, undiscounted	$	269.0
Less: discount	79.1
Total operating lease liability as of December 31, 2021, at present value	$	189.9
Less: operating lease liability as of December 31, 2021, current	23.8
Operating lease liability as of December 31, 2021, long term	$	166.1

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents our fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 and 2020, respectively:


	December 31, 2021
	Level 1		Level 2		Level 3		Total
	(In millions)
Assets:
Equity securities:
Ceridian	$	1,044.6	$	—	$	—	$	1,044.6
AAII FPA	—		—		0.5		0.5
Total equity securities	1,044.6		—		0.5		1,045.1
Other noncurrent assets:
S1 Backstop Agreement	—		12.0		—		12.0
Paysafe Warrants	5.4		—		—		5.4

AAII Warrants	—		19.3		—		19.3
Total other noncurrent assets	5.4		31.3		—		36.7
Total Assets	$	1,050.0	$	31.3	$	0.5	$	1,081.8


	December 31, 2020
	Level 1		Level 2		Level 3		Total
	(In millions)
Fixed-maturity securities available for sale:
Corporate debt securities	$	—	$	—	$	35.2	$	35.2
Equity securities:
Ceridian	1,491.8		—		—		1,491.8
FTAC FPA and FTAC II FPA	—		—		136.1		136.1
Paysafe Subscription Agreement	—		—		169.6		169.6
Other	1.6		—		—		1.6
Total assets	$	1,493.4	$	—	$	340.9	$	1,834.3

Summary of Changes in Fair Values Level 3 Assets Measured on Recurring Basis

The following table presents a summary of the changes in the fair values of Level 3 assets, measured on a recurring basis.


	Year Ended December 31, 2021
	Corporate debt		Forward Purchase		Subscription		AAII
	securities		Agreements		Agreements		Warrants		Total

Fair value, beginning of period	$	35.2	$	136.1	$	169.6	$	—	340.9

Recognized gain on settlement (1)	1.5		—		—		—		1.5
Net valuation (loss) gain included in earnings (1)	—		(24.2)		7.7		(8.9)		(25.4)
Reclassification to investments in unconsolidated affiliates and Warrants	—		(111.4)		(177.3)		—		(288.7)
Purchase of AAII Warrants	—		—		—		29.6		29.6
Net valuation gain included in other comprehensive earnings (2)	0.6		—		—		—		0.6
Transfers to Level 2	—		—		—		(20.7)		(20.7)
Redemption of corporate debt securities	(37.3)		—		—		—		(37.3)
Fair value, end of period	$	—	$	0.5	$	—	$	—	$	0.5


	Year Ended December 31, 2020
	Corporate debt		Forward Purchase		Subscription
	securities		Agreements		Agreements		Total

Fair value, beginning of period	$	19.2	$	—	$	—	$	19.2

Paid-in-kind dividends	1.3		—		—		1.3
Net valuation gain included in earnings (1)	—		136.1		169.6		305.7
Net valuation gain included in other comprehensive earnings (2)	14.7		—		—		14.7
Fair value, end of period	$	35.2	$	136.1	$	169.6	$	340.9

___________________________________

(1) Included in Recognized gains and (losses), net on the Consolidated Statements of Operations

Investments (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Gain (Loss) on Securities


	Year ended December 31,
	2021		2020
Net (losses) gains recognized during the period on equity securities	$	(52.8)	$	1,991.0
Less: net (losses) gains recognized during the period on equity securities sold or transferred during the period	(32.3)		410.2
Unrealized (losses) gains recognized during the reporting period on equity securities still held at the reporting date	$	(20.5)	$	1,580.8

Schedule of Investments in Unconsolidated Affiliates and Summarized Financial Information

Investments in unconsolidated affiliates recorded using the equity method of accounting as of December 31, 2021 and 2020 consisted of the following (in millions):


	Ownership at December 31, 2021	2021		2020
Dun & Bradstreet	15.8%	$	595.0	$	653.2
Alight/FTAC Sponsor (1)	10.0%	505.0		—
Paysafe	8.3%	431.1		—
Optimal Blue	20.0%	267.7		279.8
AmeriLife	19.8%	112.7		121.1
Sightline	32.6%	269.5		—
Other	various	80.3		398.9
Total		$	2,261.3	$	1,453.0

_____________________________________

(1) Represents both the Company's direct interest in Alight and indirect interest in Alight held through our interest in the FTAC Sponsor.

Equity in earnings (losses) of unconsolidated affiliates for the periods indicated consisted of the following (in millions):


	Year ended December 31,
	2021		2020		2019
Dun & Bradstreet	$	(13.5)	$	(46.8)	$	(132.8)
Paysafe/FTAC II Sponsor	53.3		—		—
Alight/FTAC Sponsor	38.2		—		—
Ceridian (1)	—		1.5		16.4
Optimal Blue	(13.8)		(9.4)		—
Senator JV	(1.2)		—		—
AmeriLife	(8.7)		(4.0)		—
Sightline	(2.4)		—		—
Other	20.7		117.8		1.3
Total	$	72.6	$	59.1	$	(115.1)

_____________________________________


	December 31, 2021		December 31, 2020
	(In millions)
Total current assets	$	718.0	$	874.4
Goodwill and other intangible assets, net	8,317.8		7,672.7
Other noncurrent assets	961.4		673.2
Total assets	$	9,997.2	$	9,220.3

Current liabilities	$	1,004.9	$	828.1
Long-term debt	3,716.7		3,255.8
Other non-current liabilities	1,530.3		1,552.5
Total liabilities	6,251.9		5,636.4
Noncontrolling interest	64.1		58.3
Total equity	3,745.3		3,583.9
Total liabilities and equity	$	9,997.2	$	9,220.3


	Year ended December 31,				For the period from February 8, 2019 to December 31, 2019
	2021		2020
	(In millions)
Total revenues	$	2,165.6	$	1,738.7	$	1,413.9
Loss before income taxes	(45.2)		(226.4)		(540.0)
Net loss	(65.9)		(111.6)		(425.8)
Dividends attributable to preferred equity and noncontrolling interest expense	(5.8)		(69.0)		(120.5)
Net loss attributable to Dun & Bradstreet and Star Parent	(71.7)		(180.6)		(546.3)

Summarized financial information for Optimal Blue for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Consolidated Balance Sheets and Statements of Operations, respectively, is presented below.


	December 31, 2021		December 31, 2020
	(In millions)
Total current assets	$	73.3	$	38.0
Goodwill and other intangible assets, net	1,711.0		1,831.3
Other assets	105.2		100.1
Total assets	$	1,889.5	$	1,969.4

Current liabilities	$	33.4	$	28.9
Long-term debt	494.0		493.0
Other non-current liabilities	80.9		105.0
Total liabilities	608.3		626.9
Redeemable member's interest	1,188.8		578.0
Additional paid-in capital	210.8		813.0
Retained deficit	(118.4)		(48.5)
Total members' equity	92.4		764.5
Total liabilities, redeemable member's interest and equity	$	1,889.5	$	1,969.4


	Year ended December 31, 2021		For the period from September 15, 2020 to December 31, 2020
	(In millions)
Total revenues	$	180.6	$	45.4
Operating loss	(50.1)		(38.1)
Net loss	(69.9)		(45.9)

Summarized financial information for Paysafe for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Consolidated Balance Sheets and Statements of Operations, respectively, is presented below.


	September 30, 2021
	(In millions)
Total current assets	$	1,825.9
Goodwill and other intangible assets, net	4,699.7
Other assets	67.5
Total assets	$	6,593.1

Current liabilities	$	1,623.6
Long-term debt	2,190.9
Other liabilities	172.6
Total liabilities	3,987.1
Noncontrolling interest	137.8
Total equity	2,606.0
Total liabilities and equity	$	6,593.1


	For the period from March 31, 2021 to September 30, 2021
	(In millions)
Total revenues	$	737.9
Operating loss	(261.6)
Net loss	(140.3)
Net earnings attributable to noncontrolling interest	0.3
Net loss attributable to Paysafe	(140.6)

Summarized financial information for Alight for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Consolidated Balance Sheets and Statements of Operations, respectively, is presented below.


	September 30, 2021
	(In millions)
Total current assets	$	2,914.0
Goodwill and other intangible assets, net	7,360.0
Other assets	683.0
Total assets	$	10,957.0

Current liabilities	$	2,148.0
Long-term debt	2,839.0
Other liabilities	1,292.0
Total liabilities	6,279.0
Noncontrolling interests	825.0
Total equity	4,678.0
Total liabilities and equity	$	10,957.0


	For the period from July 2, 2021 through September 30, 2021
	(In millions)
Total revenues	$	690.0
Operating income	25.0
Net loss	(120.0)
Net loss attributable to noncontrolling interests	(13.0)
Net loss attributable to Alight	(107.0)

Summarized financial information for Sightline for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Consolidated Balance Sheets and Statements of Operations, respectively, is presented below.


	September 30, 2021
	(In millions)
Total current assets	$	49.3
Goodwill and other intangible assets, net	136.9
Other assets	0.6
Total assets	$	186.8

Current liabilities	$	7.8

Other liabilities	0.2
Total liabilities	8.0
Total equity	178.8
Total liabilities and equity	$	186.8


	For the period from April 1, 2021 through September 30, 2021
	(In millions)
Total revenues	$	22.9
Net loss	(11.6)

Summarized financial information for AmeriLife Joint for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Consolidated Balance Sheets and Statements of Operations, respectively, is presented below. We account for our ownership of AmeriLife under the equity method of accounting and report our equity in earnings or loss of AmeriLife on a three-month lag. Accordingly, our net earnings for the years ended December 31, 2021 and 2020 includes our equity in AmeriLife’s losses for the period from October 1, 2020 through September 30, 2021 and March 18, 2020 through September 30, 2020, respectively.


	September 30, 2021		September 30, 2020
	(In millions)
Total current assets	$	108.3	$	108.5
Goodwill and other intangible assets, net	1,646.1		1,370.4
Other assets	24.4		16.4
Total assets	$	1,778.8	$	1,495.3

Current liabilities	$	78.2	$	53.1
Long-term debt	856.5		645.2
Other non-current liabilities	24.7		14.7
Total liabilities	959.4		713.0
Member's equity	570.0		613.4
Noncontrolling interest - nonredeemable	249.4		168.9
Total member's equity	819.4		782.3
Total liabilities and member's equity	$	1,778.8	$	1,495.3


	For the year ended September 30, 2021		For the period from March 18, 2020 through September 30, 2020
	(In millions)
Total revenues	$	548.1	$	171.3
Operating income	35.2		9.5
Net loss	(13.7)		(10.1)
Income attributable to noncontrolling interests	31.2		8.3
Net loss attributable to AmeriLife	(44.9)		(18.4)

Carrying Amount of Available-for-sale Securities

The carrying amounts and fair values of our fixed maturity securities at December 31, 2020 are as follows:


	December 31, 2020
	Carrying Value		Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
	(In millions)
Fixed maturity securities available for sale:
Corporate debt securities	$	35.2	$	22.0	$	13.2	$	—	$	35.2

Total	$	35.2	$	22.0	$	13.2	$	—	$	35.2

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment


Property and equipment consists of the following:
	December 31,
	2021		2020
	(In millions)
Furniture, fixtures and equipment	$	101.8	$	118.3
Leasehold improvements	125.6		129.6
Land	25.2		36.7
Buildings	26.5		40.9
Other	4.0		5.1
	283.1		330.6
Accumulated depreciation and amortization	(182.5)		(184.8)
	$	100.6	$	145.8

Goodwill (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Goodwill consists of the following:


		Restaurant Group		Corporate and Other		Total
	(in millions)



Balance, December 31, 2019		$	66.1	$	—	$	66.1

Impairment		(7.8)		—		(7.8)
Deconsolidation of Blue Ribbon		(4.9)		—		(4.9)
Balance, December 31, 2020		$	53.4	$	—	$	53.4


Balance, December 31, 2021		$	53.4	$	—	$	53.4

Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Variable Interest Entities

The table below summarizes select information related to variable interests held by the Company as of December 31, 2021 and 2020, of which we are not the primary beneficiary:


		2021				2020
		Total Assets		Maximum Exposure		Total Assets		Maximum Exposure
	(in millions)
Investments in unconsolidated affiliates		$	4.5	$	4.5	$	299.7	$	299.7
Paysafe Subscription Agreement		—		—		169.6		169.6
Forward Purchase Agreements		0.5		0.5		136.1		136.1
S1 Backstop Agreement		12.0		12.0		—		—

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Non-Amortizable Intangible Assets

Other intangible assets consist of the following:


	December 31,
	2021		2020
	(In millions)
Trademarks and tradenames	$	24.1	$	37.8
Software	13.8		13.5
Franchise rights	1.6		9.3
Customer relationships and contracts	5.2		5.2

	44.7		65.8
Accumulated amortization	(17.8)		(14.0)
	$	26.9	$	51.8

Schedule of Amortizable Intangible Assets

Other intangible assets consist of the following:


	December 31,
	2021		2020
	(In millions)
Trademarks and tradenames	$	24.1	$	37.8
Software	13.8		13.5
Franchise rights	1.6		9.3
Customer relationships and contracts	5.2		5.2

	44.7		65.8
Accumulated amortization	(17.8)		(14.0)
	$	26.9	$	51.8

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of Business Combination

The consideration transferred was determined as follows (in millions):


Notes receivable from Blue Ribbon	$	34.0
Fair value of investment in Blue Ribbon immediately prior to its emergence from bankruptcy	15.2
Total consideration transferred	$	49.2

Summary of Preliminary Fair Value for Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair value amounts recognized for the assets acquired and liabilities assumed as of the acquisition date (dollars in millions):


	Fair Value
Cash	$	8.6
Other current assets	24.9
Property and equipment	23.2
Lease assets	14.7
Other intangible assets	22.5
Other noncurrent assets	2.6
Total assets acquired	$	96.5

Current liabilities	$	27.6
Lease liabilities	14.5
Other noncurrent liabilities	2.3
Total liabilities assumed	$	44.4
Net assets acquired	$	52.1

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The gross carrying value and weighted average estimated useful lives of Property and equipment and Other intangible assets acquired consist of the following (dollars in millions):


	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)
Property and equipment	$	23.2	12
Other intangible assets:
Tradenames	$	8.0	15
Franchise agreements	7.7		10
Customer relationships	6.4		4
Software	0.4		5
Total Other intangible assets	$	22.5

Accounts Payable and Other Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Accounts Payable and Other Accrued Liabilities, Current and Long Term

Accounts payable and other accrued liabilities, current consist of the following:


	December 31,
	2021		2020
	(In millions)
Accrued payroll and employee benefits	$	24.4	$	21.5
Trade accounts payable	22.7		25.7
Accrued casualty self insurance expenses	8.7		11.5
Tax liabilities, excluding income taxes payable	7.9		9.9
Other accrued liabilities	41.9		24.6
	$	105.6	$	93.2

Accounts payable and other accrued liabilities, long term consist of the following:


	December 31,
	2021		2020
	(In millions)
Restaurant Group financing obligations	$	29.5	$	29.4

Other accrued liabilities	15.5		23.7
	$	45.0	$	53.1

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Notes Payable

Notes payable consists of the following:


	December 31,
	2021		2020
	(In millions)
2020 Margin Facility	$	—	$	—
Restaurant Revolver	—		—
FNF Revolver	—		—
99 Term Loan	—		16.8
99 Revolver	—		5.0



Brasada Interstate Loans	12.6		13.1

Other	3.8		28.6
Notes payable, total	$	16.4	$	63.5
Less: Notes payable, current	2.3		11.3
Notes payable, long term	$	14.1	$	52.2

Gross Principal Maturities Based Upon Contractual Maturities of Notes Payable


Gross principal maturities of notes payable at December 31, 2021 are as follows (in millions):
2022	$	2.2
2023	0.8
2024	1.1
2025	0.8
2026	10.6
Thereafter	1.6
	$	17.1

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Tax (Benefit) Expense on Continuing Operations

Income tax expense (benefit) on continuing operations consists of the following:


	Year Ended December 31,
	2021		2020		2019
	(In millions)
Current	$	101.5	$	116.1	$	64.7
Deferred	(175.5)		365.1		(40.5)
	$	(74.0)	$	481.2	$	24.2

Schedule of Reconciliation of Effective Tax Rate

A reconciliation of the federal statutory rate to our effective tax rate is as follows:


	Year Ended December 31,
	2021		2020		2019
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	(0.3)		(0.1)		(0.2)
Tax credits	1.0		(0.1)		(2.6)
Valuation allowance	0.1		0.1		0.5
Non-deductible expenses and other, net	—		—		0.1
Non-deductible executive compensation	(1.3)		0.5		1.8

Noncontrolling interests	—		0.3		2.6
Basis difference in investments	0.7		—		(2.8)

Other	(0.6)		(0.2)		(1.0)
Effective tax rate excluding equity investments	20.6	%	21.5	%	19.4	%
Equity investments	(3.5)		0.6		(9.2)
Effective tax rate	17.1	%	22.1	%	10.2	%

Schedule of Significant Components of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities at December 31, 2021 and 2020 consist of the following:


	December 31,
	2021		2020
	(In millions)
Deferred tax assets:


Net operating loss carryforwards	$	3.3	$	4.1






Other	0.5		1.4
Total gross deferred tax asset	3.8		5.5
Less: valuation allowance	(3.0)		(3.3)
Total deferred tax asset	$	0.8	$	2.2
Deferred tax liabilities:
Partnerships	$	(144.6)	$	(327.5)



Total deferred tax liability	$	(144.6)	$	(327.5)
Net deferred tax liability	$	(143.8)	$	(325.3)

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Purchase Obligations

Purchase obligations as of December 31, 2021 are as follows (in millions):


2022	$	94.3
2023	8.6
2024	6.4
2025	6.3
2026	6.4
Thereafter	0.8
Total purchase commitments	$	122.8

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Reconciliation of Operations and Financial Position

A reconciliation of the operations of T-System included in the Consolidated Statement of Operations is shown below:


	Year Ended December 31,

	2019
	(in millions)
Revenues:
Other operating revenue	$	50.4
Total operating revenues	50.4
Operating expenses:
Personnel costs	33.1
Depreciation and amortization	13.7
Other operating expenses	19.1
Goodwill impairment	35.1
Total operating expenses	101.0
Operating loss	(50.6)
Other expense:

Recognized loss	(6.9)
Total other expense	(6.9)
Loss before income taxes	(57.5)
Income tax benefit	(5.7)
Net loss from discontinued operations	$	(51.8)

Cash flow from discontinued operations data:
Net cash provided by operations	$	2.7
Net cash used in investing activities	$	(0.5)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Restricted Stock Transactions Under Omnibus Plan

Restricted stock transactions under the Omnibus Plan in 2020, 2019 and 2018 are as follows:



	Shares	Weighted Average Grant Date Fair Value
Balance, December 31, 2017	287,059	$	18.45
Granted	384,281	17.98


Vested	(95,685)	18.45
Balance, December 31, 2018	575,655	$	18.13
Granted	18,642	34.45

Vested	(223,777)	18.18
Balance, December 31, 2019	370,520	$	18.93
Granted	13,993	40.53
Vested	(234,885)	18.60
Balance, December 31, 2020	149,628	$	21.46

Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Summary of Financial Information Concerning Reportable Segments

As of and for the year ended December 31, 2021:


	Restaurant Group		Dun & Bradstreet		Optimal Blue		Amerilife		Paysafe		Alight		Corporate and Other		Affiliate Elimination		Total
	(in millions)
Restaurant revenues	$	704.7	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	704.7
Other revenues	—		2,165.6		180.6		548.1		737.9		690.0		37.5		(4,322.2)		37.5
Revenues from external customers	704.7		2,165.6		180.6		548.1		737.9		690.0		37.5		(4,322.2)		742.2
Interest and investment income, including recognized (losses) gains, net	2.1		0.7		—		—		143.1		—		(291.8)		(143.8)		(289.7)
Total revenues and other income	706.8		2,166.3		180.6		548.1		881.0		690.0		(254.3)		(4,466.0)		452.5
Depreciation and amortization	24.0		615.9		135.2		65.7		131.9		10.0		2.6		(958.7)		26.6
Interest expense	(8.8)		(206.4)		(31.5)		(48.9)		(82.0)		(28.0)		(1.0)		396.8		(9.8)
(Loss) earnings from continuing operations, before income taxes and equity in earnings (loss) of unconsolidated affiliates	(18.3)		(45.2)		(81.6)		(13.7)		(200.5)		(120.0)		(414.7)		461.0		(433.0)
Income tax expense (benefit)	1.0		23.4		(11.7)		—		(60.2)		—		(75.0)		48.5		(74.0)
(Loss) earnings from continuing operations, before equity in earnings (loss) of unconsolidated affiliates	(19.3)		(68.6)		(69.9)		(13.7)		(140.3)		(120.0)		(339.7)		412.5		(359.0)
Equity in earnings of unconsolidated affiliates	—		2.7		—		—		—		—		17.1		52.8		72.6
Loss from continuing operations	$	(19.3)	$	(65.9)	$	(69.9)	$	(13.7)	$	(140.3)	$	(120.0)	$	(322.6)	$	465.3	$	(286.4)
Assets	$	395.5	$	9,997.2	$	1,889.5	$	1,778.8	$	6,593.1	$	10,957.0	$	3,494.1	$	(31,215.6)	$	3,889.6
Goodwill	53.4		3,493.3		1,228.7		947.4		3,536.6		3,356.0		—		(12,562.0)		53.4

As of and for the year ended December 31, 2020:


	Restaurant Group		Dun & Bradstreet		Optimal Blue		Amerilife		Corporate and Other		Affiliate Elimination		Total
	(in millions)
Restaurant revenues	$	559.7	$	—	$	—	$	—	$	—	$	—	$	559.7
Other revenues	—		1,738.7		45.4		171.3		26.0		(1,955.4)		26.0
Revenues from external customers	559.7		1,738.7		45.4		171.3		26.0		(1,955.4)		585.7
Interest and investment income, including recognized gains (losses), net	7.5		0.7		—		—		2,371.9		(0.7)		2,379.4
Total revenues and other income	567.2		1,739.4		45.4		171.3		2,397.9		(1,956.1)		2,965.1
Depreciation and amortization	27.7		537.8		39.3		15.4		3.0		(592.5)		30.7
Interest expense	(8.6)		(271.1)		(9.3)		(19.7)		(0.4)		300.1		(9.0)
(Loss) earnings from continuing operations, before income taxes and equity in earnings (loss) of unconsolidated affiliates	(85.5)		(226.4)		(47.4)		(10.1)		2,267.4		283.9		2,181.9
Income tax expense (benefit)	(1.0)		(112.4)		(1.5)		—		482.2		113.9		481.2
(Loss) earnings from continuing operations, before equity in earnings of unconsolidated affiliates	(84.5)		(114.0)		(45.9)		(10.1)		1,785.2		170.0		1,700.7
Equity in (losses) earnings of unconsolidated affiliates	(9.2)		2.4		—		—		128.3		(62.4)		59.1
(Loss) earnings from continuing operations	$	(93.7)	$	(111.6)	$	(45.9)	$	(10.1)	$	1,913.5	$	107.6	$	1,759.8
Assets	$	520.9	$	9,220.3	$	1,969.4	$	1,495.3	$	4,092.5	$	(12,685.0)	$	4,613.4
Goodwill	53.4		2,857.9		1,236.8		806.2		—		(4,900.9)		53.4

As of and for the year ended December 31, 2019:


	Restaurant Group		Dun & Bradstreet		Corporate and Other		Affiliate Elimination		Total
	(in millions)
Restaurant revenues	$	1,043.3	$	—	$	—	$	—	$	1,043.3
Other revenues	—		1,413.9		26.7		(1,413.9)		26.7
Revenues from external customers	1,043.3		1,413.9		26.7		(1,413.9)		1,070.0
Interest and investment income, including recognized gains (losses), net	3.9		2.4		369.4		(2.4)		373.3
Total revenues and other income	1,047.2		1,416.3		396.1		(1,416.3)		1,443.3
Depreciation and amortization	38.5		482.4		2.2		(482.4)		40.7
Interest expense	(5.4)		(303.5)		(12.4)		303.5		(17.8)
(Loss) earnings from continuing operations, before income taxes and equity in losses of unconsolidated affiliates	(80.9)		(540.0)		318.8		540.0		237.9
Income tax expense (benefit)	0.3		(110.0)		23.9		110.0		24.2
(Loss) earnings from continuing operations, before equity in losses of unconsolidated affiliates	(81.2)		(430.0)		294.9		430.0		213.7
Equity in earnings (losses) of unconsolidated affiliates	—		4.2		1.3		(120.6)		(115.1)
(Loss) earnings from continuing operations	$	(81.2)	$	(425.8)	$	296.2	$	309.4	$	98.6
Assets	$	572.8	$	9,112.8	$	1,519.4	$	(9,112.8)	$	2,092.2
Goodwill	66.1		2,840.1		—		(2,840.1)		66.1

Supplementary Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2021

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Cash Flow information

The following supplemental cash flow information is provided with respect to interest and tax payments, as well as certain non-cash investing and financing activities.


	Year Ended December 31,
	2021		2020		2019
	(In millions)
Cash paid during the year:
Interest	$	7.0	$	5.5	$	15.6
Income taxes	128.9		107.6		48.6
Operating leases	37.8		41.3		62.6
Non-cash investing and financing activities:
Preferred shares received as consideration for note receivable from QOMPLX	$	19.3	$	—	$	—
Exchange of directly held Alight warrants for Alight common stock	12.8		—		—
Investment in CorroHealth received as partial consideration for T-System	—		—		60.2
Non-cash distribution of CoreLogic stock to Senator JV	—		112.5		—
Non-cash contribution of CoreLogic stock from Senator JV	—		176.3		—
Lease assets recognized in exchange for lease liabilities	9.3		65.0		8.5
Assets acquired in non-cash acquisition of Legendary Baking and VIBSQ	—		96.5		—
Liabilities assumed in non-cash acquisition of Legendary Baking and VIBSQ	—		44.4		—
Financing obligations assumed by O'Charley's in exchange for property	—		—		14.6
Property obtained by O'Charley's in exchange for stores	—		—		10.5

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Our revenue consists of the following:


		Year ended December 31,
		2021		2020		2019
Revenue Stream	Segment	Total Revenue
Restaurant revenue:		(in millions)
Restaurant sales	Restaurant Group	$	673.2	$	534.1	$	958.4
Bakery sales	Restaurant Group	28.8		23.4		78.9
Franchise and other	Restaurant Group	2.7		2.2		6.0
Total restaurant revenue		704.7		559.7		1,043.3
Other operating revenue:


Real estate and resort	Corporate and other	34.6		24.7		25.9
Other	Corporate and other	2.9		1.3		0.8
Total other operating revenue		37.5		26.0		26.7
Total operating revenue		742.2		585.7		1,070.0

Contract Balances, Receivables and Deferred Revenue

The following table provides information about receivables and deferred revenue:


	December 31,		December 31,
	2021		2020
	(In millions)
Trade receivables, net	$	17.7	$	17.6


Deferred revenue (contract liabilities)	23.1		23.9

Business and Summary of Significant Accounting Policies - Split-off of Cannae From FNF (Details)	Oct. 07, 2020	Nov. 17, 2017 $ / shares	Dec. 31, 2021 $ / shares	Dec. 31, 2020 $ / shares
Business Acquisition [Line Items]
Par value per share (in dollars per share)		$ 0.0001	$ 0.0001	$ 0.0001
Number of shares of common stock in newly formed entity received for each share redeemed (ratio)		1
Services agreement, extended term	2 years
Services agreement, interest rate payable from service provider	10.00%
Corporate Services Agreement \| FNF
Business Acquisition [Line Items]
Services agreement, termination period, prior to termination date		30 days
Services agreement, successive renewal terms		1 year

Business and Summary of Significant Accounting Policies - Recent Developments (Details)																			1 Months Ended					2 Months Ended	3 Months Ended		12 Months Ended
	Feb. 15, 2022 USD ($) $ / shares shares	Jan. 10, 2022 USD ($) shares	Nov. 11, 2021 USD ($)	Oct. 31, 2021 USD ($)	Oct. 21, 2021 shares	Sep. 07, 2021 USD ($)	Aug. 16, 2021 USD ($)	Aug. 10, 2021 USD ($)	Jul. 02, 2021 USD ($) shares	Jun. 28, 2021 USD ($) shares	May 20, 2021 USD ($) shares	May 10, 2021 USD ($)	Mar. 31, 2021 USD ($)	Mar. 30, 2021 USD ($) shares	Mar. 01, 2021 USD ($) shares	Feb. 25, 2021 USD ($) shares $ / shares shares	Jan. 08, 2021 shares	Jan. 07, 2021	Jan. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) $ / shares shares	Nov. 30, 2021 USD ($) shares	Sep. 30, 2021 USD ($) shares	Jul. 31, 2021 USD ($) shares	Feb. 25, 2022 shares	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($) shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2019 USD ($)	Jan. 27, 2022 USD ($) shares	Oct. 14, 2021	Jun. 24, 2021 USD ($)	Jan. 25, 2021 USD ($) shares	Nov. 17, 2017 $ / shares
Line of Credit Facility [Line Items]
Investments in Alight, net of subscription fees earned																											$ 446,300,000	$ 0	$ 0
Investments in unconsolidated affiliates																				$ 2,261,300,000							$ 2,261,300,000	$ 1,453,000,000
Par value per share (in usd per share) \| $ / shares																				$ 0.0001							$ 0.0001	$ 0.0001						$ 0.0001
VIBSQ
Line of Credit Facility [Line Items]
Loss on sale of disposal group																											$ 9,400,000
Legendary Baking
Line of Credit Facility [Line Items]
Loss on sale of disposal group						$ 3,900,000
Disposal Group, Held-for-sale, Not Discontinued Operations \| VIBSQ
Line of Credit Facility [Line Items]
Consideration for sale of disposal group																																$ 13,500,000
Disposal Group, Held-for-sale, Not Discontinued Operations \| Legendary Baking
Line of Credit Facility [Line Items]
Consideration for sale of disposal group								$ 6,100,000
Loss on disposal group previously recorded								$ 7,000,000
Bisnode Business Information Group AB
Line of Credit Facility [Line Items]
Shares issued in business combination (in shares) \| shares																	6,200,000
Paysafe
Line of Credit Facility [Line Items]
Owned investment (in shares) \| shares																				59,800,000							59,800,000
Ceridian
Line of Credit Facility [Line Items]
Owned investment (in shares) \| shares																				10,000,000							10,000,000
Percentage of ownership after sale of stock transaction																											6.60%
Ceridian \| Subsequent Event
Line of Credit Facility [Line Items]
Owned investment (in shares) \| shares																								8,000,000
Percentage of ownership after sale of stock transaction																								5.30%
Dun & Bradstreet \| Subsequent Event
Line of Credit Facility [Line Items]
Owned investment (in shares) \| shares	88,300,000
Ownership (as a percent)	20.50%
Equity investment, shares of common stock received (in shares) \| shares	21,800,000
Par value per share (in usd per share) \| $ / shares	$ 0.0001
Ceridian \| Underwritten Secondary Public Offering
Line of Credit Facility [Line Items]
Sale of stock (in shares) \| shares					1,000,000						2,000,000											1,000,000
Proceeds from sale of stock				$ 125,800,000							$ 175,000,000											$ 100,000,000
Ceridian \| Underwritten Secondary Public Offering \| Subsequent Event
Line of Credit Facility [Line Items]
Sale of stock (in shares) \| shares																			2,000,000
Proceeds from sale of stock																			$ 173,300,000
Dun & Bradstreet
Line of Credit Facility [Line Items]
Percentage of ownership after sale of stock transaction																	17.70%
Percentage of ownership before stock sale transaction																		18.10%
Gain on sale of stock																											$ 18,600,000
Ownership (as a percent)																				15.80%							15.80%
Investments in unconsolidated affiliates																				$ 595,000,000.0							$ 595,000,000.0	$ 653,200,000
Equity investment																											$ 0	200,000,000.0	526,100,000
Dun & Bradstreet \| Subsequent Event
Line of Credit Facility [Line Items]
Shares transferred to Manager for carried interest (in shares) \| shares	1,600,000
Dun & Bradstreet \| Underwritten Secondary Public Offering
Line of Credit Facility [Line Items]
Sale of stock (in shares) \| shares										8,500,000
Proceeds from sale of stock										$ 186,000,000
Owned investment (in shares) \| shares										68,100,000
Gain on sale of stock										$ 111,100,000
Alight
Line of Credit Facility [Line Items]
Equity investment, shares of common stock received (in shares) \| shares									50,390,129											1,300,000
Investments in unconsolidated affiliates									$ 446,600,000
Equity investment , warrants received (in shares) \| shares									5,000,000
Equity investment, units received (in shares) \| shares									3,026,666
Proceeds from investment in PIPE, fees									$ 6,100,000
Alight \| Alight Subscription Agreement, Purchase of Common Stock
Line of Credit Facility [Line Items]
Subscription agreement, commitment to purchase, shares (in shares) \| shares																																	25,000,000
Subscription agreement, commitment to purchase																																	$ 250,000,000
Investments in Alight, net of subscription fees earned																										$ 250,000,000
Alight \| Foley Trasimene Acquisition Corp, Forward Purchase Agreement
Line of Credit Facility [Line Items]
Investments in Alight, net of subscription fees earned																										150,000,000
Alight \| Sponsor, FTAC
Line of Credit Facility [Line Items]
Equity investment, shares of common stock received (in shares) \| shares																				786,933
Foley Trasimene Acquisition Corp
Line of Credit Facility [Line Items]
Investments in Alight, net of subscription fees earned																										$ 52,400,000
Forward purchase agreement, investment, shares purchased (in shares) \| shares																										5,200,000
Forward purchase agreement, investment, shares sold (in shares) \| shares																							1,000,000
Forward purchase agreement, sale of stock, proceeds																							$ 10,300,000
Sponsor, FTAC
Line of Credit Facility [Line Items]
Investments in unconsolidated affiliates									$ 4,500,000
Alight/FTAC Sponsor
Line of Credit Facility [Line Items]
Owned investment (in shares) \| shares																				52,500,000							52,500,000
Ownership (as a percent)																				10.00%							10.00%
Investments in unconsolidated affiliates																				$ 505,000,000.0							$ 505,000,000.0	0
Paysafe
Line of Credit Facility [Line Items]
Ownership (as a percent)																				8.30%							8.30%
Equity investment, shares of common stock received (in shares) \| shares														54,294,395
Investments in Alight, net of subscription fees earned																				$ 22,400,000
Investments in unconsolidated affiliates														$ 504,700,000						$ 431,100,000							$ 431,100,000	0
Equity investment , warrants received (in shares) \| shares														5,000,000
Equity investment, units received (in shares) \| shares														3,134,067
Proceeds from investment in PIPE, fees																											$ 5,600,000
Shares purchased (in shares) \| shares																				5,700,000
Paysafe \| Paysafe Subscription Agreement
Line of Credit Facility [Line Items]
Equity investment														$ 350,000,000
Paysafe \| Forward Purchase Agreement, Purchase of Common Stock
Line of Credit Facility [Line Items]
Equity investment														$ 150,000,000
Optimal Blue
Line of Credit Facility [Line Items]
Ownership (as a percent)																				20.00%							20.00%
Investments in unconsolidated affiliates																				$ 267,700,000							$ 267,700,000	279,800,000
Equity investment																											0	289,000,000.0	0
Optimal Blue \| Subsequent Event
Line of Credit Facility [Line Items]
Proceeds from sale of stock	$ 144,500,000
AAI
Line of Credit Facility [Line Items]
Number of businesses \| shares																1
Backstop subscription, termination, expense reimbursement received			$ 5,000,000
AAI \| Subscription for Austerlitz I Class A Ordinary Shares
Line of Credit Facility [Line Items]
Backstop subscription, facility investment commitment												$ 690,000,000
Backstop subscription, placement fee												$ 3,500,000
Sponsor of AAI
Line of Credit Facility [Line Items]
Ownership (as a percent)																10.00%
Equity investment																$ 1,600,000
AAII \| Forward Purchase Agreement, Purchase of Common Stock
Line of Credit Facility [Line Items]
Commitment to purchase, shares, warrants (in shares) \| shares																12,500,000
Number of shares called by each warrant \| shares																1
Commitment to purchase, share price (in usd per share) \| $ / shares																$ 11.50
Forward purchase agreement, investment commitment																$ 125,000,000
AAII \| Forward Purchase Agreement, Purchase Redeemable Warrants
Line of Credit Facility [Line Items]
Commitment to purchase, shares, warrants (in shares) \| shares																3,125,000
Equity Sponsors
Line of Credit Facility [Line Items]
Ownership (as a percent)																20.00%
Equity investment																$ 29,600,000
Direct interest in private placement warrants (in shares) \| shares																19,733,333
Trebia \| Subscription for Trebia Class A Common Stock
Line of Credit Facility [Line Items]
Backstop subscription, facility investment commitment										$ 200,000,000
Backstop subscription, sponsors of Trebia, class B ordinary shares forfeited, exchanged for Trebia class B ordinary shares as consideration \| shares										1,275,510
Trebia \| Subscription for Trebia Class A Common Stock \| Subsequent Event
Line of Credit Facility [Line Items]
Backstop subscription, facility investment commitment		$ 250,000,000
Backstop subscription, sponsors of Trebia, class B ordinary shares forfeited, exchanged for Trebia class B ordinary shares as consideration \| shares		1,352,941
System1 \| Subsequent Event
Line of Credit Facility [Line Items]
Owned investment (in shares) \| shares																														28,200,000
Ownership (as a percent)																														26.00%
Investments in unconsolidated affiliates																														$ 248,300,000
Warrants to purchase common shares (in shares) \| shares																														1,200,000
Tailwind Acquisition Corp \| Tailwind Subscription Agreement, Purchase of Common Stock
Line of Credit Facility [Line Items]
Subscription agreement, commitment to purchase, shares (in shares) \| shares															4,600,000
Subscription agreement, commitment to purchase															$ 37,500,000
Tailwind QOMPLX Merger
Line of Credit Facility [Line Items]
Convertible note funded															$ 12,500,000										$ 6,000,000
Sightline
Line of Credit Facility [Line Items]
Ownership (as a percent)							32.60%
Investments in unconsolidated affiliates																				$ 269,500,000							269,500,000	0
Equity investment							$ 240,000,000						$ 32,000,000														$ 272,000,000.0	$ 0	$ 0
Triple Tree Holdings, LLC
Line of Credit Facility [Line Items]
Ownership (as a percent)																															24.60%
QOMPLX, Inc.
Line of Credit Facility [Line Items]
Ownership (as a percent)																					19.30%
Conversion of convertible notes into preferred stock and redemption of preferred stock by equity method investee																					$ 7,500,000
QOMPLX, Inc. \| Preferred Stock
Line of Credit Facility [Line Items]
Owned investment (in shares) \| shares																					14,500,000

Business and Summary of Significant Accounting Policies - Other Developments (Details) - USD ($)
$ / shares in Units, $ in Millions

1 Months Ended

12 Months Ended

Jan. 18, 2022

Aug. 16, 2021

Aug. 10, 2021

May 21, 2021

Mar. 31, 2021

Feb. 26, 2021

Nov. 30, 2021

Oct. 31, 2021

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Oct. 14, 2021

Schedule of Equity Method Investments [Line Items]

Stock repurchase program, period

3 years

Stock repurchase program, number of shares authorized to be repurchased (up to)

10,000,000

Stock repurchases (in shares)

4,828,168

Stock repurchases

$ 167.3

$ 14.4

$ 4.9

Stock repurchase, average price per share (in usd per share)

$ 34.65

Distributions from investments in unconsolidated affiliates

$ 298.1

48.3

1.0

Distributions from investments in unconsolidated affiliates

23.7

128.4

2.0

Reclassification from accumulated other comprehensive income for gain

^[1]

10.8

0.0

Reclassification of unrealized losses on investments and other financial instruments, tax benefit

^[1]

(2.9)

Proceeds from sales of VIBSQ, Legendary Baking and RCI

63.2

0.0

Rock Creek Idaho Holdings, LLC

Schedule of Equity Method Investments [Line Items]

Consideration for sale of disposal group

$ 44.2

Proceeds from sales of VIBSQ, Legendary Baking and RCI

9.2

Loss on sale of disposal group

18.9

Notes Receivable | Rock Creek Idaho Holdings, LLC

Schedule of Equity Method Investments [Line Items]

Consideration for sale of disposal group

$ 35.0

Ceska zbrojovka Group SE | Colt

Schedule of Equity Method Investments [Line Items]

Ownership after business acquisition, percentage

100.00%

Sightline

Schedule of Equity Method Investments [Line Items]

Equity investment

$ 240.0

$ 32.0

272.0

0.0

$ 0.0

Ownership (as a percent)

32.60%

Senator JV

Schedule of Equity Method Investments [Line Items]

Distributions from investments in unconsolidated affiliates

$ 283.2

25.8

Distributions from investments in unconsolidated affiliates

198.6

Distributions from investments in unconsolidated affiliates

$ 126.4

Colt

Schedule of Equity Method Investments [Line Items]

Proceeds from sale of debt securities

$ 37.3

Proceeds equity securities

1.4

$ 0.4

Gain on transaction

20.3

Reclassification from accumulated other comprehensive income for gain

10.9

Reclassification of unrealized losses on investments and other financial instruments, tax benefit

$ 2.9

Ceska zbrojovka Group SE

Schedule of Equity Method Investments [Line Items]

Equity securities received in exchange for investment holdings of corporate debt securities (in shares)

3,600,000

Triple Tree Holdings, LLC

Schedule of Equity Method Investments [Line Items]

Ownership (as a percent)

24.60%

Distributions from investments in unconsolidated affiliates

$ 35.2

Triple Tree Holdings, LLC | Subsequent Event

Schedule of Equity Method Investments [Line Items]

Distributions from investments in unconsolidated affiliates

$ 14.0

[1]	Net of income tax benefit of $2.9 million for the year ended December 31, 2021.

Business and Summary of Significant Accounting Policies - Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Goodwill impairment	$ 0.0	$ 7.8	$ 10.4
Restaurant Group
Goodwill [Line Items]
Goodwill impairment		$ 7.8	10.4
T-System
Goodwill [Line Items]
Goodwill impairment			$ 35.1

Business and Summary of Significant Accounting Policies - Other Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restaurant Group \| Tradenames
Finite-Lived Intangible Assets [Line Items]
Impairment expense		$ 11.8	$ 17.1
Computer software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	3 years
Computer software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	10 years

Business and Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Impairment expense related to property and equipment	$ 0.2	$ 3.5	$ 6.6
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	30 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	40 years
Furniture, fixtures and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	3 years
Furniture, fixtures and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	25 years

Business and Summary of Significant Accounting Policies - Insurance Reserves (Details) $ in Millions	Dec. 31, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liability for insurance reserves	$ 10.8

Business and Summary of Significant Accounting Policies - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Advertising costs incurred	$ 16.0	$ 15.7	$ 30.0

Business and Summary of Significant Accounting Policies - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 3,779.6
Ending balance	3,335.3	$ 3,779.6
Unrealized (loss) gain on investments and other financial instruments, net (excluding investments in unconsolidated affiliates)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	10.2	(0.5)
Other comprehensive earnings	0.6	10.7
Reclassification adjustments	(10.8)	0.0
Ending balance	0.0	10.2
Unrealized (loss) gain relating to investments in unconsolidated affiliates
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(15.1)	(45.4)
Other comprehensive earnings	5.7	(15.9)
Reclassification adjustments	2.2	46.2
Ending balance	(7.2)	(15.1)
Total Accumulated Other Comprehensive (Loss) Earnings
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(4.9)	(45.9)
Other comprehensive earnings	6.3	(5.2)
Reclassification adjustments	(8.6)	46.2
Ending balance	$ (7.2)	$ (4.9)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Business and Summary of Significant Accounting Policies - Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Antidilutive shares excluded from calculation of diluted earnings per share (in shares)	100,000	0	0

Leases - Narrative (Details) $ in Millions	12 Months Ended
Leases - Narrative (Details) $ in Millions	Dec. 31, 2021 USD ($) optionsToRenew	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease weighted average remaining lease term	10 years	10 years
Operating lease, number of options to renew \| optionsToRenew	1
Lease weighted average discount rate, percent	6.97%	7.08%
Restaurant Group
Lessee, Lease, Description [Line Items]
Impairment of assets	$ 0.4	$ 1.5	$ 21.1
Cost of restaurant revenue
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 37.3	$ 43.2	$ 58.5
Minimum
Lessee, Lease, Description [Line Items]
Lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease terms	19 years
Lease renewal term	20 years

Leases - Future Payments Under Operating Lease Arrangements Under ASC Topic 842 (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 36.1
2023	32.9
2024	25.1
2025	22.1
2026	20.2
Thereafter	132.6
Total lease payments, undiscounted	269.0
Less: discount	79.1
Total operating lease liability as of December 31, 2021, at present value	189.9
Less: operating lease liability as of December 31, 2021, current	23.8	$ 26.2
Operating lease liability as of December 31, 2021, long term	$ 166.1	$ 195.6

Fair Value Measurements - Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets:
Fair Value	$ 35.2
Equity securities:	1,045.1
Other noncurrent assets:	36.7
Total Assets	1,081.8	$ 1,834.3
Corporate debt securities
Assets:
Fair Value	35.2	35.2
Ceridian
Assets:
Equity securities:	1,044.6	1,491.8
AAII FPA
Assets:
Equity securities:	0.5
S1 Backstop Agreement
Assets:
Other noncurrent assets:	12.0
Paysafe Warrants
Assets:
Other noncurrent assets:	5.4
AAII Warrants
Assets:
Other noncurrent assets:	19.3
FTAC FPA and FTAC II FPA
Assets:
Equity securities:		136.1
Paysafe Subscription Agreement
Assets:
Equity securities:		169.6
Other
Assets:
Equity securities:		1.6
Level 1
Assets:
Equity securities:	1,044.6
Other noncurrent assets:	5.4
Total Assets	1,050.0	1,493.4
Level 1 \| Corporate debt securities
Assets:
Fair Value		0.0
Level 1 \| Ceridian
Assets:
Equity securities:	1,044.6	1,491.8
Level 1 \| AAII FPA
Assets:
Equity securities:	0.0
Level 1 \| S1 Backstop Agreement
Assets:
Other noncurrent assets:	0.0
Level 1 \| Paysafe Warrants
Assets:
Other noncurrent assets:	5.4
Level 1 \| AAII Warrants
Assets:
Other noncurrent assets:	0.0
Level 1 \| FTAC FPA and FTAC II FPA
Assets:
Equity securities:		0.0
Level 1 \| Paysafe Subscription Agreement
Assets:
Equity securities:		0.0
Level 1 \| Other
Assets:
Equity securities:		1.6
Level 2
Assets:
Equity securities:	0.0
Other noncurrent assets:	31.3
Total Assets	31.3	0.0
Level 2 \| Corporate debt securities
Assets:
Fair Value		0.0
Level 2 \| Ceridian
Assets:
Equity securities:	0.0	0.0
Level 2 \| AAII FPA
Assets:
Equity securities:	0.0
Level 2 \| S1 Backstop Agreement
Assets:
Other noncurrent assets:	12.0
Level 2 \| Paysafe Warrants
Assets:
Other noncurrent assets:	0.0
Level 2 \| AAII Warrants
Assets:
Other noncurrent assets:	19.3
Level 2 \| FTAC FPA and FTAC II FPA
Assets:
Equity securities:		0.0
Level 2 \| Paysafe Subscription Agreement
Assets:
Equity securities:		0.0
Level 2 \| Other
Assets:
Equity securities:		0.0
Level 3
Assets:
Equity securities:	0.5
Other noncurrent assets:	0.0
Total Assets	0.5	340.9
Level 3 \| Corporate debt securities
Assets:
Fair Value		35.2
Level 3 \| Ceridian
Assets:
Equity securities:	0.0	0.0
Level 3 \| AAII FPA
Assets:
Equity securities:	0.5
Level 3 \| S1 Backstop Agreement
Assets:
Other noncurrent assets:	0.0
Level 3 \| Paysafe Warrants
Assets:
Other noncurrent assets:	0.0
Level 3 \| AAII Warrants
Assets:
Other noncurrent assets:	$ 0.0
Level 3 \| FTAC FPA and FTAC II FPA
Assets:
Equity securities:		136.1
Level 3 \| Paysafe Subscription Agreement
Assets:
Equity securities:		169.6
Level 3 \| Other
Assets:
Equity securities:		$ 0.0

Fair Value Measurements - Additional (Details)	12 Months Ended
Fair Value Measurements - Additional (Details)	Dec. 31, 2021
AAII
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Probability of consummation of business combination, percentage	80.00%

Fair Value Measurements - Summary of Changes in the Fair Values of Level 3 Assets Measured on a Recurring Basis (Details) - Level 3 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning of period	$ 340.9	$ 19.2
Recognized gain on settlement	1.5
Paid-in-kind dividends		1.3
Net valuation gain included in earnings	(25.4)	305.7
Reclassification to investments in unconsolidated affiliates and Warrants, transfers to Level 2	(20.7)
Purchase of AAII Warrants	29.6
Net valuation gain included in other comprehensive earnings	0.6	14.7
Redemption of corporate debt securities	(37.3)
Fair value, end of period	0.5	340.9
Investments in unconsolidated affiliates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reclassification to investments in unconsolidated affiliates and Warrants, transfers to Level 2	(288.7)
AAII Warrants
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning of period	0.0
Net valuation gain included in earnings	(8.9)
Reclassification to investments in unconsolidated affiliates and Warrants, transfers to Level 2	(20.7)
Purchase of AAII Warrants	29.6
Fair value, end of period	0.0	0.0
Corporate debt securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning of period	35.2	19.2
Recognized gain on settlement	1.5
Paid-in-kind dividends		1.3
Net valuation gain included in earnings	0.0	0.0
Purchase of AAII Warrants	0.0
Net valuation gain included in other comprehensive earnings	0.6	14.7
Redemption of corporate debt securities	(37.3)
Fair value, end of period	0.0	35.2
Corporate debt securities \| Investments in unconsolidated affiliates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reclassification to investments in unconsolidated affiliates and Warrants, transfers to Level 2	0.0
Common Stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Recognized gain on settlement	0.0
Common Stock \| Forward Purchase Agreements
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning of period	136.1	0.0
Net valuation gain included in earnings	(24.2)	136.1
Purchase of AAII Warrants	0.0
Fair value, end of period	0.5	136.1
Common Stock \| Forward Purchase Agreements \| Investments in unconsolidated affiliates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reclassification to investments in unconsolidated affiliates and Warrants, transfers to Level 2	(111.4)
Common Stock \| Subscription Agreements
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning of period	169.6	0.0
Net valuation gain included in earnings	7.7	169.6
Purchase of AAII Warrants	0.0
Fair value, end of period	0.0	$ 169.6
Common Stock \| Subscription Agreements \| Investments in unconsolidated affiliates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reclassification to investments in unconsolidated affiliates and Warrants, transfers to Level 2	$ (177.3)

Investments - Equity Securities Gain (Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Net (losses) gains recognized during the period on equity securities	$ (52.8)	$ 1,991.0
Less: net (losses) gains recognized during the period on equity securities sold or transferred during the period	(32.3)	410.2
Unrealized (losses) gains recognized during the reporting period on equity securities still held at the reporting date	$ (20.5)	$ 1,580.8

Investments - Schedule of Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 16, 2021	Mar. 30, 2021
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	$ 2,261.3	$ 1,453.0
Equity in earnings (losses) of unconsolidated affiliates	$ 72.6	59.1	$ (115.1)
Dun & Bradstreet
Schedule of Equity Method Investments [Line Items]
Ownership (as a percent)	15.80%
Investments in unconsolidated affiliates	$ 595.0	653.2
Equity in earnings (losses) of unconsolidated affiliates	$ (13.5)	(46.8)	(132.8)
Alight/FTAC Sponsor
Schedule of Equity Method Investments [Line Items]
Ownership (as a percent)	10.00%
Investments in unconsolidated affiliates	$ 505.0	0.0
Equity in earnings (losses) of unconsolidated affiliates	$ 38.2	0.0	0.0
Paysafe
Schedule of Equity Method Investments [Line Items]
Ownership (as a percent)	8.30%
Investments in unconsolidated affiliates	$ 431.1	0.0			$ 504.7
Optimal Blue
Schedule of Equity Method Investments [Line Items]
Ownership (as a percent)	20.00%
Investments in unconsolidated affiliates	$ 267.7	279.8
Equity in earnings (losses) of unconsolidated affiliates	(13.8)	(9.4)	0.0
AmeriLife
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	112.7	121.1
Equity in earnings (losses) of unconsolidated affiliates	(8.7)	(4.0)	0.0
Sightline
Schedule of Equity Method Investments [Line Items]
Ownership (as a percent)				32.60%
Investments in unconsolidated affiliates	269.5	0.0
Equity in earnings (losses) of unconsolidated affiliates	(2.4)	0.0	0.0
Other
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	80.3	398.9
Equity in earnings (losses) of unconsolidated affiliates	20.7	117.8	1.3
Paysafe/FTAC II Sponsor
Schedule of Equity Method Investments [Line Items]
Equity in earnings (losses) of unconsolidated affiliates	53.3	0.0	0.0
Ceridian
Schedule of Equity Method Investments [Line Items]
Equity in earnings (losses) of unconsolidated affiliates	0.0	1.5	16.4
Senator JV
Schedule of Equity Method Investments [Line Items]
Equity in earnings (losses) of unconsolidated affiliates	$ (1.2)	$ 0.0	$ 0.0

Investments - Narrative (Details) - USD ($)			3 Months Ended	6 Months Ended	12 Months Ended
Investments - Narrative (Details) - USD ($)	Aug. 16, 2021	Mar. 31, 2021	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Nov. 30, 2021	Jul. 02, 2021	Jun. 30, 2021	Mar. 30, 2021
Debt Securities, Available-for-sale [Line Items]
Amortization expense for amortizable intangible assets					$ 4,100,000	$ 4,000,000	$ 4,900,000
Other-than-temporary impairment charges on debt securities					0	0	400,000
Dun & Bradstreet
Debt Securities, Available-for-sale [Line Items]
Based on quoted market prices, aggregate fair value of ownership					$ 1,400,000,000
Ownership (as a percent)					15.80%
Agreement with equity sponsors to collectively vote on the election of directors to board of directors, period					3 years
Equity investment					$ 0	200,000,000.0	526,100,000
Paysafe
Debt Securities, Available-for-sale [Line Items]
Based on quoted market prices, aggregate fair value of ownership					$ 233,700,000
Ownership (as a percent)					8.30%
Other than temporary impairment of investment			$ 391,800,000
Difference between equity ownership interest and underlying equity in net assets			$ 224,300,000	$ 224,300,000						$ 618,400,000	$ 567,800,000
Alight
Debt Securities, Available-for-sale [Line Items]
Based on quoted market prices, aggregate fair value of ownership					$ 567,300,000
Difference between equity ownership interest and underlying equity in net assets									$ 102,100,000
Sightline
Debt Securities, Available-for-sale [Line Items]
Ownership (as a percent)	32.60%
Difference between equity ownership interest and underlying equity in net assets	$ 212,700,000
Equity investment	240,000,000	$ 32,000,000			272,000,000.0	0	$ 0
Amortization expense for amortizable intangible assets				$ 1,300,000
Sightline \| Customer relationships
Debt Securities, Available-for-sale [Line Items]
Difference between equity ownership interest and underlying equity in net assets	$ 132,100,000
Intangible assets, useful lives	10 years
Sightline \| Developed technology
Debt Securities, Available-for-sale [Line Items]
Difference between equity ownership interest and underlying equity in net assets	$ 73,500,000
Intangible assets, useful lives	5 years
Sightline \| Tradenames
Debt Securities, Available-for-sale [Line Items]
Difference between equity ownership interest and underlying equity in net assets	$ 7,100,000
Intangible assets, useful lives	5 years
QOMPLX, Inc.
Debt Securities, Available-for-sale [Line Items]
Ownership (as a percent)								19.30%
Investment without readily determinable fair value					$ 54,200,000	$ 30,000,000

Investments - Schedule of Summarized Financial Information, Dun & Bradstreet (Details) - USD ($) $ in Millions	11 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Combined Balance Sheets
Total current assets		$ 121.6	$ 844.2
Total assets	$ 2,092.2	3,889.6	4,613.4	$ 2,092.2
Current liabilities		179.5	202.0
Long-term debt		16.4	63.5
Other non-current liabilities		29.5	29.4
Total liabilities		548.5	828.2
Noncontrolling interests		5.8	5.6
Total equity	1,529.8	3,341.1	3,785.2	1,529.8	$ 1,199.7
Total liabilities and equity		3,889.6	4,613.4
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues		452.5	2,965.1	1,443.3
Net loss		(286.4)	1,759.8	46.8
Dun & Bradstreet \| Unconsolidated affiliates
Condensed Combined Balance Sheets
Total current assets		718.0	874.4
Goodwill and other intangible assets, net		8,317.8	7,672.7
Other noncurrent assets		961.4	673.2
Total assets		9,997.2	9,220.3
Current liabilities		1,004.9	828.1
Long-term debt		3,716.7	3,255.8
Other non-current liabilities		1,530.3	1,552.5
Total liabilities		6,251.9	5,636.4
Noncontrolling interests		64.1	58.3
Total equity		3,745.3	3,583.9
Total liabilities and equity	9,220.3	9,997.2		$ 9,220.3
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues	1,413.9	2,165.6	1,738.7
Loss before income taxes	(540.0)	(45.2)	(226.4)
Net loss	(425.8)	(65.9)	(111.6)
Dividends attributable to preferred equity and noncontrolling interest expense	(120.5)	(5.8)	(69.0)
Net loss	$ (546.3)	$ (71.7)	$ (180.6)

Investments - Schedule of Summarized Financial Information, Optimal Blue (Details) - USD ($) $ in Millions	4 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Combined Balance Sheets
Total current assets	$ 844.2	$ 121.6	$ 844.2
Total assets	4,613.4	3,889.6	4,613.4	$ 2,092.2
Current liabilities	202.0	179.5	202.0
Long-term debt	63.5	16.4	63.5
Other non-current liabilities	29.4	29.5	29.4
Total liabilities	828.2	548.5	828.2
Additional paid-in capital	1,875.8	1,888.3	1,875.8
Retained deficit	1,929.8	1,642.8	1,929.8
Total liabilities and equity	4,613.4	3,889.6	4,613.4
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues		452.5	2,965.1	1,443.3
Operating loss		(133.5)	(188.5)	$ (117.6)
Unconsolidated affiliates \| Optimal Blue
Condensed Combined Balance Sheets
Total current assets	38.0	73.3	38.0
Goodwill and other intangible assets, net	1,831.3	1,711.0	1,831.3
Other assets	100.1	105.2	100.1
Total assets	1,969.4	1,889.5	1,969.4
Current liabilities	28.9	33.4	28.9
Long-term debt	493.0	494.0	493.0
Other non-current liabilities	105.0	80.9	105.0
Total liabilities	626.9	608.3	626.9
Redeemable member's interest	578.0	1,188.8	578.0
Additional paid-in capital	813.0	210.8	813.0
Retained deficit	(48.5)	(118.4)	(48.5)
Total member's equity	764.5	92.4	764.5
Total liabilities and equity	1,969.4	1,889.5	$ 1,969.4
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues	45.4	180.6
Operating loss	(38.1)	(50.1)
Net loss	$ (45.9)	$ (69.9)

Investments - Schedule of Summarized Financial Information, Paysafe (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Combined Balance Sheets
Total current assets		$ 121.6	$ 844.2
Total assets		3,889.6	4,613.4	$ 2,092.2
Current liabilities		179.5	202.0
Long-term debt		16.4	63.5
Other liabilities		29.5	29.4
Total liabilities		548.5	828.2
Noncontrolling interests		5.8	5.6
Total equity		3,341.1	3,785.2	1,529.8	$ 1,199.7
Total liabilities and equity		3,889.6	4,613.4
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues		452.5	2,965.1	1,443.3
Net loss		(286.4)	1,759.8	46.8
Net earnings attributable to noncontrolling interest		0.6	(26.4)	(30.5)
Net loss attributable to Paysafe		$ (287.0)	$ 1,786.2	$ 77.3
Unconsolidated affiliates \| Paysafe
Condensed Combined Balance Sheets
Total current assets	$ 1,825.9
Goodwill and other intangible assets, net	4,699.7
Other noncurrent assets	67.5
Total assets	6,593.1
Current liabilities	1,623.6
Long-term debt	2,190.9
Other liabilities	172.6
Total liabilities	3,987.1
Noncontrolling interests	137.8
Total equity	2,606.0
Total liabilities and equity	6,593.1
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues	737.9
Loss before income taxes	(261.6)
Net loss	(140.3)
Net earnings attributable to noncontrolling interest	0.3
Net loss attributable to Paysafe	$ (140.6)

Investments - Schedule of Summarized Financial Information, Alight (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Total current assets		$ 121.6	$ 844.2
Total assets		3,889.6	4,613.4	$ 2,092.2
Current liabilities		179.5	202.0
Long-term debt		16.4	63.5
Other liabilities		29.5	29.4
Total liabilities		548.5	828.2
Noncontrolling interests		5.8	5.6
Total equity		3,341.1	3,785.2	1,529.8	$ 1,199.7
Total liabilities and equity		3,889.6	4,613.4
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues		452.5	2,965.1	1,443.3
Net earnings (loss)		(286.4)	1,759.8	46.8
Net earnings (loss) attributable to noncontrolling interest		0.6	(26.4)	(30.5)
Net loss attributable to Paysafe		$ (287.0)	$ 1,786.2	$ 77.3
Investments in unconsolidated affiliates \| Alight
Schedule of Equity Method Investments [Line Items]
Total current assets	$ 2,914.0
Goodwill and other intangible assets, net	7,360.0
Other noncurrent assets	683.0
Total assets	10,957.0
Current liabilities	2,148.0
Long-term debt	2,839.0
Other liabilities	1,292.0
Total liabilities	6,279.0
Noncontrolling interests	825.0
Total equity	4,678.0
Total liabilities and equity	10,957.0
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues	690.0
Loss before income taxes	25.0
Net earnings (loss)	(120.0)
Net earnings (loss) attributable to noncontrolling interest	(13.0)
Net loss attributable to Paysafe	$ (107.0)

Investments - Schedule of Summarized Financial Information, Sightline (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Total current assets		$ 121.6	$ 844.2
Total assets		3,889.6	4,613.4	$ 2,092.2
Current liabilities		179.5	202.0
Other liabilities		29.5	29.4
Total liabilities		548.5	828.2
Total equity		3,341.1	3,785.2	1,529.8	$ 1,199.7
Total liabilities and equity		3,889.6	4,613.4
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues		452.5	2,965.1	1,443.3
Net earnings (loss)		$ (286.4)	$ 1,759.8	$ 46.8
Investments in unconsolidated affiliates \| Sightline
Schedule of Equity Method Investments [Line Items]
Total current assets	$ 49.3
Goodwill and other intangible assets, net	136.9
Other noncurrent assets	0.6
Total assets	186.8
Current liabilities	7.8
Other liabilities	0.2
Total liabilities	8.0
Total equity	178.8
Total liabilities and equity	186.8
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues	22.9
Net earnings (loss)	$ (11.6)

Investments - Schedule of Summarized Financial Information, AmeriLife (Details) - USD ($) $ in Millions	6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Combined Balance Sheets
Total current assets			$ 121.6	$ 844.2
Total assets			3,889.6	4,613.4	$ 2,092.2
Current liabilities			179.5	202.0
Long-term debt			16.4	63.5
Other non-current liabilities			29.5	29.4
Total liabilities			548.5	828.2
Total liabilities and equity			3,889.6	4,613.4
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues			452.5	2,965.1	1,443.3
Operating loss			(133.5)	(188.5)	(117.6)
Net earnings (loss)			(286.4)	1,759.8	46.8
Net earnings (loss) attributable to noncontrolling interest			$ 0.6	$ (26.4)	$ (30.5)
Unconsolidated affiliates \| AmeriLife
Condensed Combined Balance Sheets
Total current assets	$ 108.5	$ 108.3
Goodwill and other intangible assets, net	1,370.4	1,646.1
Other noncurrent assets	16.4	24.4
Total assets	1,495.3	1,778.8
Current liabilities	53.1	78.2
Long-term debt	645.2	856.5
Other non-current liabilities	14.7	24.7
Total liabilities	713.0	959.4
Members' equity	613.4	570.0
Noncontrolling interest - nonredeemable	168.9	249.4
Total member's equity	782.3	819.4
Total liabilities and equity	1,495.3	1,778.8
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Total revenues	171.3	548.1
Operating loss	9.5	35.2
Net earnings (loss)	(10.1)	(13.7)
Net earnings (loss) attributable to noncontrolling interest	8.3	31.2
Net loss	$ (18.4)	$ (44.9)

Investments - Schedule of Carrying Amounts and Fair Values of Fixed Maturity Securities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Cost Basis	$ 22.0
Unrealized Gains	13.2
Unrealized Losses	0.0
Fair Value	35.2
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Cost Basis	22.0
Unrealized Gains	13.2
Unrealized Losses	0.0
Fair Value	35.2	$ 35.2
Carrying Value
Debt Securities, Available-for-sale [Line Items]
Fair Value	35.2
Carrying Value \| Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 35.2

Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 283.1	$ 330.6
Accumulated depreciation and amortization	(182.5)	(184.8)
Property and equipment, net	100.6	145.8
Depreciation expense on property and equipment	22.5	26.7	$ 35.8
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	101.8	118.3
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	125.6	129.6
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	25.2	36.7
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	26.5	40.9
Other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4.0	$ 5.1

Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Balance, beginning of year	$ 53.4	$ 66.1
Impairment	0.0	(7.8)	$ (10.4)
Deconsolidation of Blue Ribbon		(4.9)
Balance, end of year	53.4	53.4	66.1
Restaurant Group
Goodwill [Roll Forward]
Balance, beginning of year	53.4	66.1
Impairment		(7.8)	(10.4)
Deconsolidation of Blue Ribbon		(4.9)
Balance, end of year	53.4	53.4	66.1
Corporate and Other
Goodwill [Roll Forward]
Balance, beginning of year	0.0	0.0
Impairment		0.0
Deconsolidation of Blue Ribbon		0.0
Balance, end of year	$ 0.0	$ 0.0	$ 0.0

Variable Interest Entities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Assets	$ 3,889.6	$ 4,613.4	$ 2,092.2
Variable interest entity, not primary beneficiary \| Investments in unconsolidated affiliates
Variable Interest Entity [Line Items]
Assets	4.5	299.7
Maximum Exposure	4.5	299.7
Variable interest entity, not primary beneficiary \| Paysafe Subscription Agreement
Variable Interest Entity [Line Items]
Assets	0.0	169.6
Maximum Exposure	0.0	169.6
Variable interest entity, not primary beneficiary \| Forward Purchase Agreements
Variable Interest Entity [Line Items]
Assets	0.5	136.1
Maximum Exposure	0.5	136.1
Variable interest entity, not primary beneficiary \| S1 Backstop Agreement
Variable Interest Entity [Line Items]
Assets	12.0	0.0
Maximum Exposure	$ 12.0	$ 0.0

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Other Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 44.7	$ 65.8
Accumulated amortization	(17.8)	(14.0)
Intangible assets, net	26.9	51.8
Trademarks and tradenames
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	24.1	37.8
Software
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	13.8	13.5
Franchise rights
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	1.6	9.3
Customer relationships and contracts
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	$ 5.2	$ 5.2

Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for amortizable intangible assets	$ 4.1	$ 4.0	$ 4.9
Estimated amortization expense, 2022	3.7
Estimated amortization expense, 2023	3.1
Estimated amortization expense, 2024	2.3
Estimated amortization expense, 2025	2.3
Estimated amortization expense, 2026	$ 2.3

Acquisitions - Consideration and Additional Information (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
	Oct. 02, 2020	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Recognized gain			$ (310.8)	$ 2,362.2	$ 357.7
Legendary Baking and VIBSQ
Business Acquisition [Line Items]
Percentage of assets and uncompromised liabilities acquired	100.00%
Total consideration transferred	$ 49.2
Business acquisition, revenue		$ 36.6
Business acquisition, net loss		$ 4.0
Blue Ribbon
Business Acquisition [Line Items]
DIP Loan	15.5
Recognized gain				$ 9.5
Blue Ribbon \| Legendary Baking and VIBSQ
Business Acquisition [Line Items]
Notes receivable from Blue Ribbon	34.0
Fair value of investment in Blue Ribbon immediately prior to its emergence from bankruptcy	15.2
Debtor-in-possession financing outstanding	12.0
Blue Ribbon \| Legendary Baking and VIBSQ \| Exit Financing Provided
Business Acquisition [Line Items]
Due from related parties	$ 6.5

Acquisitions - Preliminary Fair Value for Assets Acquired and Liabilities Assumed (Details) - Legendary Baking and VIBSQ $ in Millions	Oct. 02, 2020 USD ($)
Business Acquisition [Line Items]
Cash	$ 8.6
Other current assets	24.9
Property and equipment	23.2
Lease assets	14.7
Other intangible assets	22.5
Other noncurrent assets	2.6
Total assets acquired	96.5
Current liabilities	27.6
Lease liabilities	14.5
Other noncurrent liabilities	2.3
Total liabilities assumed	44.4
Net assets acquired	$ 52.1

Acquisitions - Gross Carrying Value and Weighted Average Estimated Useful Lives of Property and Equipment Other Intangible Assets Acquired (Details) - Legendary Baking and VIBSQ $ in Millions	Oct. 02, 2020 USD ($)
Business Acquisition [Line Items]
Property and equipment	$ 23.2
Property and equipment useful life	12 years
Other intangible assets:
Gross Carrying Value	$ 22.5
Tradenames
Other intangible assets:
Gross Carrying Value	$ 8.0
Weighted Average Estimated Useful Life (in years)	15 years
Franchise rights
Other intangible assets:
Gross Carrying Value	$ 7.7
Weighted Average Estimated Useful Life (in years)	10 years
Customer relationships
Other intangible assets:
Gross Carrying Value	$ 6.4
Weighted Average Estimated Useful Life (in years)	4 years
Software
Other intangible assets:
Gross Carrying Value	$ 0.4
Weighted Average Estimated Useful Life (in years)	5 years

Accounts Payable and Other Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Accounts payable and other accrued liabilities, current
Accrued payroll and employee benefits	$ 24.4	$ 21.5
Trade accounts payable	22.7	25.7
Accrued casualty self insurance expenses	8.7	11.5
Tax liabilities, excluding income taxes payable	7.9	9.9
Other accrued liabilities	41.9	24.6
Accounts payable and other accrued liabilities, current	105.6	93.2
Accounts payable and other accrued liabilities, long term
Restaurant Group financing obligations	29.5	29.4
Other accrued liabilities	15.5	23.7
Accounts payable and other accrued liabilities, long term	$ 45.0	$ 53.1

Notes Payable - Schedule of Notes Payable (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Notes payable, total	$ 16,400,000	$ 63,500,000
Less: Notes payable, current	2,300,000	11,300,000
Notes payable, long term	14,100,000	52,200,000
2020 Margin Facility
Debt Instrument [Line Items]
Notes payable, total	0	0
Restaurant Revolver \| Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable, total	0	0
FNF Revolver \| Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable, total	0	0
99 Term Loan \| Notes payable to banks
Debt Instrument [Line Items]
Notes payable, total	0	16,800,000
99 Revolver \| Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable, total	0	5,000,000.0
Brasada Interstate Loans \| Notes payable to banks
Debt Instrument [Line Items]
Notes payable, total	10,000,000	13,100,000
Other \| Other notes payable
Debt Instrument [Line Items]
Notes payable, total	$ 3,800,000	$ 28,600,000

Notes Payable - Narrative (Details)						2 Months Ended
Notes Payable - Narrative (Details)	Jan. 20, 2022 shares	Dec. 10, 2021 USD ($) shares	Aug. 16, 2021 USD ($) shares	Nov. 30, 2020 USD ($) $ / shares shares	Nov. 17, 2017 USD ($) $ / shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 21, 2018 USD ($)	Jun. 13, 2018 USD ($)	Jan. 29, 2016 USD ($)
Line of Credit Facility [Line Items]
Common stock, shares, issued (in shares) \| shares						92,391,965	92,460,514
Par value per share (in usd per share) \| $ / shares					$ 0.0001	$ 0.0001	$ 0.0001
Borrowings outstanding						$ 63,500,000	$ 16,400,000
O'Charley's and Restaurant Growth Services, LLC
Line of Credit Facility [Line Items]
Ownership interest, controlling interest							65.40%
2020 Margin Facility
Line of Credit Facility [Line Items]
Borrowings outstanding						0	$ 0
2020 Margin Facility \| Senior Lien
Line of Credit Facility [Line Items]
Common stock, shares, issued (in shares) \| shares				19,000,000
Par value per share (in usd per share) \| $ / shares				$ 0.0001
Common stock shares issued, additional shares (in shares) \| shares			16,000,000	11,000,000
2020 Margin Facility \| Revolver Note
Line of Credit Facility [Line Items]
Aggregate borrowing capacity				$ 100,000,000
Option to increase limit				$ 500,000,000			500,000,000
Borrowing capacity, increase		$ 100,000,000	$ 100,000,000
Shares of Common stock released as collateral (in shares) \| shares		1,000,000
Amount available to borrow							$ 300,000,000
2020 Margin Facility \| Revolver Note \| Senior Lien
Line of Credit Facility [Line Items]
Shares held as security for credit facility (in shares) \| shares							5,000,000
2020 Margin Facility \| Revolver Note \| Senior Lien \| Subsequent Event
Line of Credit Facility [Line Items]
Shares held as security for credit facility (in shares) \| shares	1,000,000
Limit of collateral value of common stock	1.5
99 Revolver Credit Facility \| Revolver Note
Line of Credit Facility [Line Items]
Aggregate borrowing capacity								$ 15,000,000
Decrease borrowing capacity						7,500,000
Borrowings outstanding						5,000,000.0	$ 0
99 Revolver Credit Facility \| Revolver Note \| Swingline debt \| Fifth Third Bank
Line of Credit Facility [Line Items]
Aggregate borrowing capacity								2,500,000
99 Revolver Credit Facility \| Letter of credit
Line of Credit Facility [Line Items]
Aggregate borrowing capacity								5,000,000
99 Term Loan
Line of Credit Facility [Line Items]
Face amount of loan								$ 37,000,000
99 Term Loan \| Notes payable to banks
Line of Credit Facility [Line Items]
Borrowings outstanding						16,800,000	0
Restaurant Revolver \| Revolver Note
Line of Credit Facility [Line Items]
Aggregate borrowing capacity							25,000,000
Amount available to borrow							25,000,000
Borrowings outstanding						0	0
Restaurant Revolver \| Letter of credit
Line of Credit Facility [Line Items]
Aggregate borrowing capacity							15,000,000
Interstate Credit Agreement
Line of Credit Facility [Line Items]
Aggregate borrowing capacity										$ 17,000,000
Interstate Credit Agreement \| Acquisition Loan
Line of Credit Facility [Line Items]
Face amount of loan										$ 12,500,000
Interstate Credit Agreement \| Notes payable to banks
Line of Credit Facility [Line Items]
Borrowings outstanding						13,100,000	$ 10,000,000
Interstate Credit Agreement \| Notes payable to banks \| Minimum
Line of Credit Facility [Line Items]
Variable rate interest							2.34%
Interstate Credit Agreement \| Notes payable to banks \| Maximum
Line of Credit Facility [Line Items]
Variable rate interest							4.50%
Interstate Credit Agreement, Note C \| Notes payable to banks
Line of Credit Facility [Line Items]
Borrowings outstanding							$ 2,000,000
Variable rate interest							2.35%
Interstate Credit Agreement, Note C \| Line of Credit Loan
Line of Credit Facility [Line Items]
Borrowings outstanding									$ 3,600,000
Corporate Revolver Note \| Revolver Note
Line of Credit Facility [Line Items]
Aggregate borrowing capacity					$ 100,000,000
Amount available to borrow							$ 100,000,000
Borrowings outstanding						$ 0	$ 0
Maximum incremental borrowing under credit facility					$ 1,000,000
Term of revolver note					5 years
Term of automatic extension					5 years
Corporate Revolver Note \| Revolver Note \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate					4.50%

Notes Payable - Gross Principal Maturities Based Upon Contractual Maturities of Notes Payable (Details) $ in Millions	Dec. 31, 2021 USD ($)
Debt Disclosure [Abstract]
2022	$ 2.2
2023	0.8
2024	1.1
2025	0.8
2026	10.6
Thereafter	1.6
Total Long Term Debt	$ 17.1

Income Taxes - Income tax components (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Current	$ 101.5	$ 116.1	$ 64.7
Deferred	(175.5)	365.1	(40.5)
Income tax (benefit) expense	$ (74.0)	$ 481.2	$ 24.2

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Reconciliation of Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	(0.30%)	(0.10%)	(0.20%)
Tax credits	1.00%	(0.10%)	(2.60%)
Valuation allowance	0.10%	0.10%	0.50%
Non-deductible expenses and other, net	0.00%	0.00%	0.10%
Non-deductible executive compensation	(1.30%)	0.50%	1.80%
Noncontrolling interests	0.00%	0.30%	2.60%
Basis difference in investments	0.70%	0.00%	(2.80%)
Other	(0.60%)	(0.20%)	(1.00%)
Effective tax rate excluding equity investments	20.60%	21.50%	19.40%
Equity investments	(3.50%)	0.60%	(9.20%)
Effective tax rate	17.10%	22.10%	10.20%

Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	$ 0	$ 0	$ 0
CNNE
Operating Loss Carryforwards [Line Items]
Ownership (as a percent)	100.00%
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 67,000,000
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		68,500,000
Valuation allowance for state NOLs	$ 3,000,000	$ 3,300,000

Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 3.3	$ 4.1
Other	0.5	1.4
Total gross deferred tax asset	3.8	5.5
Less: valuation allowance	(3.0)	(3.3)
Total deferred tax asset	0.8	2.2
Deferred tax liabilities:
Partnerships	(144.6)	(327.5)
Total deferred tax liability	(144.6)	(327.5)
Net deferred tax liability	$ (143.8)	$ (325.3)

Commitments and Contingencies - Narrative (Details) - business	Dec. 31, 2021	Feb. 18, 2021
Commitments and Contingencies Disclosure [Abstract]
Number of restaurants	1
Number of directors		2

Commitments and Contingencies - Purchase Obligations (Details) $ in Millions	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 94.3
2023	8.6
2024	6.4
2025	6.3
2026	6.4
Thereafter	0.8
Total purchase commitments	$ 122.8

Discontinued Operations - Narrative (Details) - T-System Holdings, Inc. - Disposed of by Sale $ in Millions	Dec. 31, 2019 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax loss on sale	$ 6.4
Income tax benefit	$ 1.4
Coding Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest after sale (as a percent)	22.70%

Discontinued Operations - Reconciliation of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating expenses:
Loss from discontinued operations	$ 0.0	$ 0.0	$ (51.8)
T-System Holdings, Inc. \| Disposed of by Sale
Revenues:
Other operating revenue			50.4
Total operating revenues			50.4
Operating expenses:
Personnel costs			33.1
Depreciation and amortization			13.7
Other operating expenses			19.1
Goodwill impairment			35.1
Total operating expenses			101.0
Operating loss			(50.6)
Recognized loss			(6.9)
Total other expense			(6.9)
Loss from discontinued operations before income taxes			(57.5)
Income tax expense (benefit)			(5.7)
Loss from discontinued operations			(51.8)
Net cash provided by operations			2.7
Net cash used in investing activities			$ (0.5)

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	May 16, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued (in shares)			12,700,000	7,500,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period		3 years
Allocated stock-based compensation expense		$ 4.2	$ 4.1	$ 2.0
The Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)					3,900,000
The Omnibus Plan \| IPO \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued (in shares)	991,906
The Omnibus Plan \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)		149,628
Fair value of restricted stock granted		$ 0.6	$ 0.6	$ 6.9

Employee Benefit Plans - Restricted Stock Transactions Under the Omnibus Plan (Details) - The Omnibus Plan - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares
Balance, End of period (in shares)	149,628
CNNE
Shares
Balance, Beginning of period (in shares)	370,520	575,655	287,059
Granted (in shares)	13,993	18,642	384,281
Vested (in shares)	(234,885)	(223,777)	(95,685)
Balance, End of period (in shares)	149,628	370,520	575,655
Weighted Average Grant Date Fair Value
Beginning of period (in usd per share)	$ 18.93	$ 18.13	$ 18.45
Granted (in usd per share)	40.53	34.45	17.98
Vested (in usd per share)	18.60	18.18	18.45
End of period (in usd per share)	$ 21.46	$ 18.93	$ 18.13

Concentration of Risk (Details)	12 Months Ended
Concentration of Risk (Details)	Dec. 31, 2021 distributor
Risks and Uncertainties [Abstract]
Number of distributors	2

Segment Information - Summary of Financial Information Concerning Reportable Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenues from external customers	$ 742.2	$ 585.7	$ 1,070.0
Interest and investment income, including recognized gains (losses), net	(289.7)	2,379.4	373.3
Total revenues and other income	452.5	2,965.1	1,443.3
Depreciation and amortization	26.6	30.7	40.7
Interest expense	(9.8)	(9.0)	(17.8)
(Loss) earnings from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(433.0)	2,181.9	237.9
Income tax (benefit) expense	(74.0)	481.2	24.2
(Loss) earnings from continuing operations before equity in earnings (losses) of unconsolidated affiliates	(359.0)	1,700.7	213.7
Equity in (losses) earnings of unconsolidated affiliates	72.6	59.1	(115.1)
(Loss) earnings from continuing operations	(286.4)	1,759.8	98.6
Assets	3,889.6	4,613.4	2,092.2
Goodwill	53.4	53.4	66.1
Restaurant Group
Segment Reporting Information [Line Items]
Revenues from external customers	704.7	559.7	1,043.3
Goodwill	53.4	53.4	66.1
Corporate and Other
Segment Reporting Information [Line Items]
Goodwill	0.0	0.0	0.0
Operating Segments
Segment Reporting Information [Line Items]
Equity in (losses) earnings of unconsolidated affiliates		128.3
Operating Segments \| Restaurant Group
Segment Reporting Information [Line Items]
Revenues from external customers	704.7	559.7	1,043.3
Interest and investment income, including recognized gains (losses), net	2.1	7.5	3.9
Total revenues and other income	706.8	567.2	1,047.2
Depreciation and amortization	24.0	27.7	38.5
Interest expense	(8.8)	(8.6)	5.4
(Loss) earnings from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(18.3)	(85.5)	(80.9)
Income tax (benefit) expense	1.0	(1.0)	0.3
(Loss) earnings from continuing operations before equity in earnings (losses) of unconsolidated affiliates	(19.3)	(84.5)	(81.2)
Equity in (losses) earnings of unconsolidated affiliates	0.0	(9.2)	0.0
(Loss) earnings from continuing operations	(19.3)	(93.7)	(81.2)
Assets	395.5	520.9	572.8
Goodwill	53.4	53.4
Operating Segments \| Dun & Bradstreet
Segment Reporting Information [Line Items]
Revenues from external customers	2,165.6	1,738.7	1,413.9
Interest and investment income, including recognized gains (losses), net	0.7	0.7	2.4
Total revenues and other income	2,166.3	1,739.4	1,416.3
Depreciation and amortization	615.9	537.8	482.4
Interest expense	(206.4)	(271.1)	(303.5)
(Loss) earnings from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(45.2)	(226.4)	(540.0)
Income tax (benefit) expense	23.4	(112.4)	(110.0)
(Loss) earnings from continuing operations before equity in earnings (losses) of unconsolidated affiliates	(68.6)	(114.0)	(430.0)
Equity in (losses) earnings of unconsolidated affiliates	2.7	2.4	4.2
(Loss) earnings from continuing operations	(65.9)	(111.6)	(425.8)
Assets	9,997.2	9,220.3	9,112.8
Goodwill	3,493.3	2,857.9	2,840.1
Operating Segments \| Optimal Blue
Segment Reporting Information [Line Items]
Revenues from external customers	180.6	45.4
Interest and investment income, including recognized gains (losses), net	0.0	0.0
Total revenues and other income	180.6	45.4
Depreciation and amortization	135.2	39.3
Interest expense	31.5	(9.3)
(Loss) earnings from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(81.6)	(47.4)
Income tax (benefit) expense	(11.7)	(1.5)
(Loss) earnings from continuing operations before equity in earnings (losses) of unconsolidated affiliates	(69.9)	(45.9)
Equity in (losses) earnings of unconsolidated affiliates	0.0	0.0
(Loss) earnings from continuing operations	(69.9)	(45.9)
Assets	1,889.5	1,969.4
Goodwill	1,228.7	1,236.8
Operating Segments \| AmeriLife
Segment Reporting Information [Line Items]
Revenues from external customers	548.1	171.3
Interest and investment income, including recognized gains (losses), net	0.0	0.0
Total revenues and other income	548.1	171.3
Depreciation and amortization	65.7	15.4
Interest expense	(48.9)	(19.7)
(Loss) earnings from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(13.7)	(10.1)
Income tax (benefit) expense	0.0	0.0
(Loss) earnings from continuing operations before equity in earnings (losses) of unconsolidated affiliates	(13.7)	(10.1)
Equity in (losses) earnings of unconsolidated affiliates	0.0	0.0
(Loss) earnings from continuing operations	(13.7)	(10.1)
Assets	1,778.8	1,495.3
Goodwill	947.4	806.2
Operating Segments \| Paysafe
Segment Reporting Information [Line Items]
Revenues from external customers	737.9
Interest and investment income, including recognized gains (losses), net	143.1
Total revenues and other income	881.0
Depreciation and amortization	131.9
Interest expense	(82.0)
(Loss) earnings from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(200.5)
Income tax (benefit) expense	(60.2)
(Loss) earnings from continuing operations before equity in earnings (losses) of unconsolidated affiliates	(140.3)
Equity in (losses) earnings of unconsolidated affiliates	0.0
(Loss) earnings from continuing operations	(140.3)
Assets	6,593.1
Goodwill	3,536.6
Operating Segments \| Alight
Segment Reporting Information [Line Items]
Revenues from external customers	690.0
Interest and investment income, including recognized gains (losses), net	0.0
Total revenues and other income	690.0
Depreciation and amortization	10.0
Interest expense	(28.0)
(Loss) earnings from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(120.0)
Income tax (benefit) expense	0.0
(Loss) earnings from continuing operations before equity in earnings (losses) of unconsolidated affiliates	(120.0)
Equity in (losses) earnings of unconsolidated affiliates	0.0
(Loss) earnings from continuing operations	(120.0)
Assets	10,957.0
Goodwill	3,356.0
Operating Segments \| Corporate and Other
Segment Reporting Information [Line Items]
Revenues from external customers	37.5	26.0	26.7
Interest and investment income, including recognized gains (losses), net	(291.8)	2,371.9	369.4
Total revenues and other income	(254.3)	2,397.9	396.1
Depreciation and amortization	2.6	3.0	2.2
Interest expense	(1.0)	(0.4)	12.4
(Loss) earnings from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(414.7)	2,267.4	318.8
Income tax (benefit) expense	(75.0)	482.2	23.9
(Loss) earnings from continuing operations before equity in earnings (losses) of unconsolidated affiliates	(339.7)	1,785.2	294.9
Equity in (losses) earnings of unconsolidated affiliates	17.1		1.3
(Loss) earnings from continuing operations	(322.6)	1,913.5	296.2
Assets	3,494.1	4,092.5	1,519.4
Goodwill	0.0	0.0	0.0
Affiliate Elimination
Segment Reporting Information [Line Items]
Revenues from external customers	(4,322.2)	(1,955.4)	(1,413.9)
Interest and investment income, including recognized gains (losses), net	(143.8)	(0.7)	(2.4)
Total revenues and other income	(4,466.0)	(1,956.1)	(1,416.3)
Depreciation and amortization	(958.7)	(592.5)	(482.4)
Interest expense	396.8	300.1	303.5
(Loss) earnings from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	461.0	283.9	540.0
Income tax (benefit) expense	48.5	113.9	110.0
(Loss) earnings from continuing operations before equity in earnings (losses) of unconsolidated affiliates	412.5	170.0	430.0
Equity in (losses) earnings of unconsolidated affiliates	52.8	(62.4)	(120.6)
(Loss) earnings from continuing operations	465.3	107.6	309.4
Assets	(31,215.6)	(12,685.0)	(9,112.8)
Goodwill	(12,562.0)	(4,900.9)	(2,840.1)
Restaurant revenue
Segment Reporting Information [Line Items]
Revenues from external customers	704.7	559.7	1,043.3
Restaurant revenue \| Restaurant Group
Segment Reporting Information [Line Items]
Revenues from external customers	673.2	534.1	958.4
Restaurant revenue \| Operating Segments \| Restaurant Group
Segment Reporting Information [Line Items]
Revenues from external customers	704.7	559.7	1,043.3
Restaurant revenue \| Operating Segments \| Dun & Bradstreet
Segment Reporting Information [Line Items]
Revenues from external customers	0.0	0.0	0.0
Restaurant revenue \| Operating Segments \| Optimal Blue
Segment Reporting Information [Line Items]
Revenues from external customers	0.0	0.0
Restaurant revenue \| Operating Segments \| AmeriLife
Segment Reporting Information [Line Items]
Revenues from external customers	0.0	0.0
Restaurant revenue \| Operating Segments \| Paysafe
Segment Reporting Information [Line Items]
Revenues from external customers	0.0
Restaurant revenue \| Operating Segments \| Alight
Segment Reporting Information [Line Items]
Revenues from external customers	0.0
Restaurant revenue \| Operating Segments \| Corporate and Other
Segment Reporting Information [Line Items]
Revenues from external customers	0.0	0.0	0.0
Restaurant revenue \| Affiliate Elimination
Segment Reporting Information [Line Items]
Revenues from external customers	0.0	0.0	0.0
Other operating revenue
Segment Reporting Information [Line Items]
Revenues from external customers	37.5	26.0	26.7
Other operating revenue \| Operating Segments \| Restaurant Group
Segment Reporting Information [Line Items]
Revenues from external customers	0.0	0.0	0.0
Other operating revenue \| Operating Segments \| Dun & Bradstreet
Segment Reporting Information [Line Items]
Revenues from external customers	2,165.6	1,738.7	1,413.9
Other operating revenue \| Operating Segments \| Optimal Blue
Segment Reporting Information [Line Items]
Revenues from external customers	180.6	45.4
Other operating revenue \| Operating Segments \| AmeriLife
Segment Reporting Information [Line Items]
Revenues from external customers	548.1	171.3
Other operating revenue \| Operating Segments \| Paysafe
Segment Reporting Information [Line Items]
Revenues from external customers	737.9
Other operating revenue \| Operating Segments \| Alight
Segment Reporting Information [Line Items]
Revenues from external customers	690.0
Other operating revenue \| Operating Segments \| Corporate and Other
Segment Reporting Information [Line Items]
Revenues from external customers	37.5	26.0	26.7
Other operating revenue \| Affiliate Elimination
Segment Reporting Information [Line Items]
Revenues from external customers	$ (4,322.2)	$ (1,955.4)	$ (1,413.9)

Segment Information - Narrative (Details)	Dec. 31, 2021
Dun & Bradstreet
Segment Reporting Information [Line Items]
Ownership interest, equity method investment (as a percent)	15.80%
Alight
Segment Reporting Information [Line Items]
Ownership interest, equity method investment (as a percent)	10.00%
Paysafe
Segment Reporting Information [Line Items]
Ownership interest, equity method investment (as a percent)	8.30%
Optimal Blue
Segment Reporting Information [Line Items]
Ownership interest, equity method investment (as a percent)	20.00%
AmeriLife
Segment Reporting Information [Line Items]
Ownership interest, equity method investment (as a percent)	19.80%
O'Charley's
Segment Reporting Information [Line Items]
Ownership interest, controlling interest	65.40%
99 Restaurants
Segment Reporting Information [Line Items]
Ownership interest, controlling interest	88.50%

Related Party Transactions (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 17, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Other operating expense, management fees and interest payable		$ 151.6	$ 116.6	$ 133.4
Interest, investment and other income		21.1	17.2	15.6
FNF
Related Party Transaction [Line Items]
Payment for management services		3.5
FNF \| Corporate Overhead and Management Services
Related Party Transaction [Line Items]
Expenses from related party transactions			1.3	$ 1.3
Affiliated \| Purchase of Office Headquarters
Related Party Transaction [Line Items]
Purchase of corporate offices	$ 9.3
Manager \| Carried Interest Expense Related to Sales of and Distributions from Investments
Related Party Transaction [Line Items]
Expenses from related party transactions		44.5
Manager \| Management Fee Expense Payable
Related Party Transaction [Line Items]
Other operating expense, management fees and interest payable		$ 33.6	20.8
Manager \| Management Fee Expense , Interest
Related Party Transaction [Line Items]
Other operating expense, management fees and interest payable			11.3
Manager \| Management Services Agreement, Fees Earned
Related Party Transaction [Line Items]
Interest, investment and other income			$ 9.1

Supplementary Cash Flow Information - Schedule (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash paid during the year:
Interest	$ 7.0	$ 5.5	$ 15.6
Income taxes	128.9	107.6	48.6
Operating leases	37.8	41.3	62.6
Non-cash investing and financing activities:
Preferred shares received as consideration for note receivable from QOMPLX	19.3	0.0	0.0
Exchange of directly held Alight warrants for Alight common stock	12.8	0.0	0.0
Investment in CorroHealth received as partial consideration for T-System	0.0	0.0	60.2
Non-cash distribution of CoreLogic stock to Senator JV	0.0	112.5	0.0
Non-cash contribution of CoreLogic stock from Senator JV	0.0	176.3	0.0
Lease assets recognized in exchange for lease liabilities	9.3	65.0	8.5
Assets acquired in non-cash acquisition of Legendary Baking and VIBSQ	0.0	96.5	0.0
Liabilities assumed in non-cash acquisition of Legendary Baking and VIBSQ	0.0	44.4	0.0
Financing obligations assumed by O'Charley's in exchange for property	0.0	0.0	14.6
Property obtained by O'Charley's in exchange for stores	$ 0.0	$ 0.0	$ 10.5

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 742.2	$ 585.7	$ 1,070.0
Restaurant revenue
Disaggregation of Revenue [Line Items]
Total operating revenues	704.7	559.7	1,043.3
Restaurant Group
Disaggregation of Revenue [Line Items]
Total operating revenues	704.7	559.7	1,043.3
Restaurant Group \| Restaurant revenue
Disaggregation of Revenue [Line Items]
Total operating revenues	673.2	534.1	958.4
Restaurant Group \| Bakery sales
Disaggregation of Revenue [Line Items]
Total operating revenues	28.8	23.4	78.9
Restaurant Group \| Franchise and other
Disaggregation of Revenue [Line Items]
Total operating revenues	2.7	2.2	6.0
Corporate and Other \| Real estate and resort
Disaggregation of Revenue [Line Items]
Total operating revenues	34.6	24.7	25.9
Corporate and Other \| Other
Disaggregation of Revenue [Line Items]
Total operating revenues	2.9	1.3	0.8
Other operating revenue
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 37.5	$ 26.0	$ 26.7

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Trade receivables, net	$ 17.7	$ 17.6
Deferred revenue (contract liabilities)	23.1	23.9
Revenue recognized	$ 20.6	$ 17.5